Gulf Oil and Gas accountACCOUNT

German Chancellor starts up BASF subsidiary Wintershall's new oil production

Source: www.gulfoilandgas.com 10/16/2004, Location: Africa

Tripoli. The largest German producer of crude oil and natural gas is strengthening its production in Libya: Wintershall, a wholly-owned BASF subsidiary, is a company with one of the longest operating records in this North African country, and has been successfully engaged in the exploration and production of oil there since 1958. During his visit on Friday morning, the Federal Chancellor, Gerhard Schr?der, in the company of the Libyan Prime Minister Dr. Shukri Mohammed Ghanem, started up Wintershall's new oil production facility in the Libyan desert, 1000 kilometres south-east of Tripoli. The BASF subsidiary is one of the leading foreign oil producers in Libya. After his visit to Wintershall, the German Chancellor continued to Tripoli for talks with the Libyan leader Muammar al-Gaddafi.

"Libya is one of our selected core regions where the company enjoys a high level of regional and technological expertise. We will continue to build on our past successes," announced Reinier Zwitserloot, chairman of the board of executive directors at Wintershall. The company has been producing oil from five fields (As Sarah, Jakhira, Nakhla, Tuama and Hamid) in the Libyan desert's Sirte Basin, and also, in a consortium that includes the Libyan National Oil Corporation (NOC) and French TOTAL, from the Al Jurf offshore field in the Mediterranean off the coast of Libya. Wintershall has already invested over 1.2 billion US dollars in Libya and has drilled over 120 wells in total. Over the next three years, the BASF subsidiary will spend a further 400 million US dollars in searching for new and developing existing fields.

This year, Wintershall has already carried out five exploration and appraisal wells in its concession areas in the Libyan desert, and three further wells are to be completed by the end of the year. All previous five wells have struck oil (i.e. with proof of the economic viability of the strikes), as the company announced during the Chancellor's visit. "Two of these wells have even provided evidence of a new oil field," reported Bernhard Schmidt, the Wintershall Director responsible for Exploration and Production. The development of these new strikes is currently being worked out in co-ordination with the National Oil Corporation (NOC).

Meanwhile, the German Chancellor was able to start up a new production facility near the Jakhira Oasis on Friday. Wintershall has been producing oil from the field of the same name since 1976 and has in the last few years accelerated the development of the field and expanded its production facilities here and in other existing fields. In so doing, Wintershall has achieved a 7.5-fold increase in its production in Libya since 1990.


Exploration News in Libya >>

Nigeria >>  9/18/2020 - Zenith Energy Ltd., the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announc...
Nigeria >>  9/17/2020 - Further to the announcement of 3 August 2020, ADM Energy PLC, a natural resources investing company, is pleased to announce that it has formally submi...

Egypt >>  9/16/2020 - Eni (as the Operator of the Block) and bp (as contractor member) announce a new gas discovery in the so-called "Great Nooros Area", located in the Abu...
Argentina >>  9/15/2020 - President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina has provided an oper...

United Kingdom >>  9/15/2020 - Deltic Energy, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and C...
Brazil >>  9/14/2020 - Petrobras reports on the revision of the Exploration & Production (E&P) segment portfolio in face of the crisis caused by COVID-19. The revision aims ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Libya Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.