Wintershall Dea, Germany’s largest crude oil and natural gas producer, managed to achieve unaffected production levels of 606,000 barrels of oil equivalent per day (boe/d) in Q2 2020 despite the adverse impact of the pandemic, according to a press release.
In addition to maintaining production levels, Wintershall Dea further reduced its peer-leading production costs further to $3.5 per boe, the record-lowest levels in the company’s history. Despite this new record production cost, health and safety were not compromised.
Mario Mehren, Wintershall Dea Chairman & CEO, said, “The quarter was, without doubt, one of the most challenging that the industry has seen in a long time. However, I am pleased with the underlying business performance, and the way the company is dealing with the challenges that face us.
In terms of project completion, the company has successfully completed drilling at the Dvalin gas project in Norway, and the project will go on stream by the end of 2020. Achimov 4A and 5A in Russia and Raven in Egypt will follow suit at the beginning of 2021.
Liquidity stands at around EUR 1.8 billion.