Wintershall will be operating company for a second license in the Gulf region / 1,700 square kilometres to be surveyed
Wintershall is stepping up its activities in the Arabian Gulf Region: the wholly owned BASF subsidiary has been awarded another exploration licence in Qatar’s territorial waters. On Wednesday, 24 October 2007 an agreement was signed for Block 3 with the state oil company Qatar Petroleum. With a 40 percent share, the largest Germanbased oil and gas producer will be the operating company for the exploration activities off the coast of Qatar Arabian Peninsula. The other partners are the Japanese company Cosmo Oil (35%) and Indonesia’s Pertamina (25%).
The agreement was signed by H.E. Mr. Abdullah AlAttiyah, Deputy Prime Minister, Minister of Energy and Industry on behalf of Qatar Government, Dr. Ties Tiessen, Member of the Board, Exploration and Production, Wintershall Holding AG, Mr. Hideo Matsushita, Senior Managing Director of Cosmo Energy Exploration & Development Ltd. and Mr. Sukussen Soemrinta, Corporate Senior Vice President, Upstream and member of Board of PT Pertamina (Persero). Offshore Block 3 covers an area of about 1,700 square kilometres. 3D seismic surveys as well as exploration and appraisal wells are planned for the area over the next few years with drilling expected to commence in 2009.
“We have been pursuing exploration prospects and the development of reserves off the coast of the emirate of Qatar, which has substantial oil and gas reserves, for some time now”, Bernhard Schmidt, Member of the Board of Executive Directors of Wintershall and responsible for Exploration and Development, said explaining the company’s decision to expand its involvement there. “And since we have had very constructive cooperation with the Qatar government and the state oil company Qatar Petroleum in the last few years, we are, of course, very pleased that our activities in Qatar are gaining a second foothold”.
Wintershall already took over as operating company of Offshore Block 11 in Qatar in 2001 with a 51 percent stake. US company Anadarko Resources Corporation holds the remaining 49 percent. Offshore Block 11 lies about 50 kilometres northeast of the Qatar coast directly adjacent to Block 3. Following successful seismic surveys in 2003, two exploration wells were conducted there in 2005 and 2006 and struck hydrocarbons. A successor well in Block 11 to further explore the deposit is being prepared.
In addition, from midFebruary to midApril and in June 2007 a seismic vessel surveyed an area of 630 square kilometres to further examine the concession block. The aim of the seismic surveys is to provide more precise information on the location, depth and dimensions of the reservoir. The data is currently being analysed by experts at Wintershall. Wintershall and Anadarko are drilling as licensed by and on behalf of the Qatar government.
