Wintershall Dea: A new European champion

Source: press release, 2 May 2019

photo: Wintershall Dea
photo: Wintershall Dea

Wintershall Holding GmbH (Wintershall) and DEA Deutsche Erdoel AG (DEA) have completed their merger to form Wintershall Dea.

“We are a European champion and are making an important contribution to Europe’s energy security,” explains Mario Mehren, Chairman of the Board of Executive Directors and Chief Executive Officer (CEO) of Wintershall Dea. Following the approvals granted by all relevant authorities, shareholders BASF and LetterOne successfully completed the merger on May 1, 2019. The merger was agreed in September 2018.

Alv Bjørn Solheim became head of the Business Unit Norway of Wintershall Dea and as such Managing Director of Wintershall Norge and DEA Norge on 1 May 2019. The two companies will legally merge later this year, and Solheim will take the role as managing director in the merged company to be named Wintershall Dea Norge AS.

Wintershall Dea produces gas and oil in four core regions: Europe, Russia, Latin America and the MENA region (Middle East & North Africa). “As an energy company, we know that we are merely stewards of the country’s natural resources. We recognise our responsibility, and work with all stakeholders to ensure that our presence improves people’s lives. In the countries where we are active, we are well positioned and often even a leader,” says Maria Moraeus Hanssen, Deputy CEO and Chief Operating Officer of Wintershall Dea. This applies, for example, to domestic production in Germany, but also to the Norwegian continental shelf and production in Russia. “Our portfolio is well balanced both regionally and operationally and 70% of our production is gas. And that is a good thing for Europe with a growing demand for natural gas. Europe does not need less, but more gas, in order to achieve its own climate goals,” says Moraeus Hanssen.

“Our roots are in Germany, our home is Europe and our work is global,” summarises CEO Mario Mehren. The upstream activities of the company are supplemented by investments in natural gas infrastructure and midstream services. Together with its partners, Wintershall Dea operates a natural gas pipeline network in Germany of approximately 2,400 kilometres. The company is also a shareholder of Nord Stream AG and provides financing to Nord Stream 2 AG.