New licence partner for Wintershall Dea in Brazil’s Potiguar Basin
- Murphy Oil Corporation becomes partner in Wintershall Dea’s three exploration licenses in the Potiguar Basin
- Operator Wintershall Dea retains a 70% participating interest
Wintershall Dea farms down a 30% participating interest in its three Potiguar offshore exploration blocks POT-M-857, POT-M-863 and POT-M-865 to the subsidiary of Murphy Oil Corporation in Brazil - Murphy Brasil Exploração e Produção de Petróleo e Gás Ltda. Wintershall Dea will retain a 70% participating interest and operatorship. The agreement is subject to a final regulatory approval by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels, ANP.
“The farm-down is in line with Wintershall Dea’s strategy of having a balanced portfolio. Brazil plays an important role for the company, as a region for growth”, says Thilo Wieland, Member of the Management Board of Wintershall Dea and responsible for Brazil.
Hugo Dijkgraaf, Chief Technology Officer in the Management Board of Wintershall Dea comments: “We are very pleased, having Murphy as a license partner in Potiguar. We are already working with Murphy in Block 5 offshore Mexico and are now looking forward to extend our cooperation on these prolific exploration blocks offshore Brazil”. As part of the work program, a 3D seismic campaign is currently underway in the area. The three blocks cover an area of total 3,133 km² and are located in the Potiguar basin, a proven hydrocarbon system on the Equatorial Margin in North Eastern Brazil and in the vicinity to the light oil discovery Pitu.
Wintershall Dea was awarded the three blocks with a 100% participating interest including operatorship in Brazil’s 15th Concession Bidding Round in November 2018.
Currently, Wintershall Dea holds participation interest in seven exploration licenses offshore Brazil, of which four as operator.
About Wintershall Dea
The merger between Wintershall Holding GmbH and DEA Deutsche Erdoel AG, two successful enterprises with a long tradition, has created Europe’s leading independent natural gas and crude oil company: Wintershall Dea. The company, which has its roots in Germany and is headquartered in Kassel and Hamburg, explores for and produces gas and oil in an efficient and responsible manner in 13 countries worldwide. With activities in Europe, Russia, Latin America and the MENA (Middle East & North Africa) region, Wintershall Dea has a global upstream portfolio and also operates in midstream business through its stakes in natural gas transport firms.
Wintershall Dea embodies more than 120 years of expertise and experience as an operator and project partner throughout the E&P value chain. The company employs around 4,000 people from more than 60 countries all over the world. The company aims to increase the average daily production in 2018 from around 590,000 barrels of oil equivalent by 2023 to around 750,000 barrels of oil equivalent.