Wintershall Dea was awarded two offshore blocks: S-M-766 and C-M-845, in Santos and Campos basins in Brazil’s 16th bid round for oil and gas exploration blocks, According to Wintershall Dea’s press release.
“We are very pleased with the awards in this competitive bid round. Brazil is one of the world’s most promising oil and gas regions. The blocks we won are an excellent fit to our plans in Brazil. The country is an important pillar in our global growth strategy,” Hugo Dijkgraaf, Member of the Management Board of Wintershall Dea and responsible for Exploration, commented.
Wintershall Dea will own a 20% stake in the two offshore blocks, alongside its partners Repsol and Chevron. The blocks’ work program will include a 3D seismic acquisition as well as a prospect maturation.
“The blocks are located in the immediate vicinity of three licenses, where we already have exploration activities. They are a strong complement to our exploration portfolio, giving us further access to a maturing and emerging basin. We now look forward to start the exploration work together with our partners,” Valerie Bosse, Managing Director of Wintershall Dea in Brazil said.
Currently, Wintershall Dea holds interest in nine exploration licenses offshore Brazil, of which four as operator. The blocks award is considered a sign of success for the merger.
Moreover, Wintershall Dea is working on strengthening its commitment to Egypt through successful cooperation. In early 2018, it announced the start of an extensive work program in all of its operational Egyptian assets. The company is currently investing more than $500 million over three years (2018-2020), aiming to significantly boost its gas and oil production in the country.
Furthermore, the company seeks to intensify the exploration and production (E&P) activities in the Egyptian sedimentary basins through expanding its activities and increasing investments in all different regions.