Wintershall increases oil production in Aitingen

Tuesday, February 28, 2012
  • The exploration well 'Aitingen Nord-Ost 1' will first undergo a test in April to provide information on the possible production volumes.

Wintershall is continuing to invest in domestic oil production: between November 2011 and January 2012 the company sunk the new wells 'Aitingen Süd 2', 'Schwabmünchen 7' and 'Aitingen Nord-Ost 1' in the Alpine foothills south of Augsburg. All three wells struck oil. The crude oil from 'Aitingen Süd 2' and 'Schwabmünchen 7' will flow via steel pipeline to the operations in Aitingen from May 2012, where it will be treated and then transported to the refinery in Lingen. The exploration well 'Aitingen Nord-Ost 1' will first undergo a test in April to provide information on the possible production volumes.

The wholly owned BASF subsidiary Wintershall has invested around 7.5 million euros in the wells. 'The new wells aim to increase the previous annual production volumes and secure production for the next 20 years,' Rainer Ihl, Manager of Wintershall's production site in Aitingen, explained. The company has been operating the production region south of Augsburg since 1979. In 2011 around 30,000 tons of crude oil were produced in Aitingen and Schwabmünchen. The new discoveries bring the total number of production wells by Wintershall in the Alpine foothills to ten.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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