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Wintershall Dea
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Wintershall Dea
Wintershall Dea GmbH is a German gas and oil producer. The joint venture was created in May 2019 by the merger between Wintershall Holding GmbH and DEA Deutsche Erdoel AG. BASF SE has a 67% stake in it, with the other 33% being held by LetterOne, whose main ultimate owner is the Russian business magnate Mikhail Fridman. As of 2020[update] it was planning listing on the Frankfurt Stock Exchange.
In 2021, Wintershall Dea was ranked no. 25 out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).
Wintershall was founded in 1894 and DEA was founded five years later as Deutsche Tiefbohr-Actiengesellschaft. The two companies began to work together more intensively since the 1950s. In 1952, Wintershall and DEA acquired the majority in Deutsche Gasolin AG which later merged with its sister company Aral AG in connection with the construction of the Emsland oil refinery. Another consequence of their collaboration was the joint establishment of Germany's only offshore drilling platform Mittelplate in the Wadden Sea, which began production in 1987.
On 27 September 2018, the respective parent companies of Wintershall and DEA, namely BASF and LetterOne, announced the binding contract for the merger of their daughter companies. Wintershall Dea was created on 1 May 2019 through the merger of Wintershall and DEA.
In August 2020, Wintershall Dea signed a cooperation memorandum with Sonatrach of Algeria.
In December 2023, an agreement was signed for the acquisition of Wintershall Dea by the British gas and oil production company Harbour Energy for $11.2 billion. The transaction is expected to be completed in the fourth quarter of 2024. As part of the transaction, both BASF and LetterOne will receive shares (39.6% and 14.9%, respectively) in Harbour Energy as payment. The German headquarters in Hamburg and Kassel will be closed after the completion.
As of 2019[update] Wintershall Dea operated in the field of gas and oil exploration and production in 13 countries in Europe, Latin America, the Middle East, North Africa and Russia with headquarters in Kassel and Hamburg. As of 2019[update] it employed around 2,800 people worldwide. Its chief executive officer has been Mario Mehren. According to Wintershall DEA's pro forma figures, revenues and other income amounted to €5.9 billion in 2019.
As of 2020[update] Wintershall Dea owned 40% of the Bergknapp prospect. It has also been the operator of the prospect.
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Wintershall Dea
Wintershall Dea GmbH is a German gas and oil producer. The joint venture was created in May 2019 by the merger between Wintershall Holding GmbH and DEA Deutsche Erdoel AG. BASF SE has a 67% stake in it, with the other 33% being held by LetterOne, whose main ultimate owner is the Russian business magnate Mikhail Fridman. As of 2020[update] it was planning listing on the Frankfurt Stock Exchange.
In 2021, Wintershall Dea was ranked no. 25 out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).
Wintershall was founded in 1894 and DEA was founded five years later as Deutsche Tiefbohr-Actiengesellschaft. The two companies began to work together more intensively since the 1950s. In 1952, Wintershall and DEA acquired the majority in Deutsche Gasolin AG which later merged with its sister company Aral AG in connection with the construction of the Emsland oil refinery. Another consequence of their collaboration was the joint establishment of Germany's only offshore drilling platform Mittelplate in the Wadden Sea, which began production in 1987.
On 27 September 2018, the respective parent companies of Wintershall and DEA, namely BASF and LetterOne, announced the binding contract for the merger of their daughter companies. Wintershall Dea was created on 1 May 2019 through the merger of Wintershall and DEA.
In August 2020, Wintershall Dea signed a cooperation memorandum with Sonatrach of Algeria.
In December 2023, an agreement was signed for the acquisition of Wintershall Dea by the British gas and oil production company Harbour Energy for $11.2 billion. The transaction is expected to be completed in the fourth quarter of 2024. As part of the transaction, both BASF and LetterOne will receive shares (39.6% and 14.9%, respectively) in Harbour Energy as payment. The German headquarters in Hamburg and Kassel will be closed after the completion.
As of 2019[update] Wintershall Dea operated in the field of gas and oil exploration and production in 13 countries in Europe, Latin America, the Middle East, North Africa and Russia with headquarters in Kassel and Hamburg. As of 2019[update] it employed around 2,800 people worldwide. Its chief executive officer has been Mario Mehren. According to Wintershall DEA's pro forma figures, revenues and other income amounted to €5.9 billion in 2019.
As of 2020[update] Wintershall Dea owned 40% of the Bergknapp prospect. It has also been the operator of the prospect.
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