Wintershall committed to North Sea

Wintershall affirms commitment to wide-ranging investments in North Sea

Offshore staff

(Kassel). Wintershall has announced that it will continue to expand its North Sea activities, investing several hundred million Euros over the next few years. It is already The Netherlands' third largest gas producer in volume terms, having increased its production in this sector five-fold since 2000.

Last year, the German company commissioned its largest gas production platform in the sector, and it is now looking to expand its operations in the UK – where it recently acquired 15 offshore blocks – and also in Danish and Norwegian waters, where it sees many candidates for small to mid-size gas field developments.

The company is prepared to invest further to prolong the productive life-span of its assets and to exploit more complex reservoirs. In return, it has asked the European Union to provide framework conditions that would guarantee oil companies calculability and planning reliability for such investments over the long term.

1/12/06

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