© Wintershall DEA
After 38 years of production, the German oil and gas company Wintershall DEA has transferred its shares in the Gulf of Suez Concession to Egypt’s General Petroleum Corporation.
“The Gulf of Suez concession has always been a proud part of our history in Egypt. It is the foundation for us to build a successful long-term business here, which brings us to Egypt’s energy supply. Made it a major contributor to. ” Shark SabriSenior Vice President and Managing Director of Wintershall Dea Egypt, continues:
Despite transferring the Gulf of Suez concession in January 2022, the company still holds a 17.25% stake in one of Egypt’s largest offshore West Nile Delta concessions, with operators Produced on land by the Nile Delta Disc Concession.
“The decision to conclude an involvement in oil production in the Gulf of Suez is part of Wintershall’s corporate strategy, focusing on the company’s energy transition pathways and natural gas. Natural gas is Wintershall. It occupies most of Dee’s global portfolio, Europe’s largest independent gas and oil company. As a traditional climate-friendly energy source, natural gas plays an increasingly important role in achieving climate goals. “Let’s do it,” said Wintershall DEA.
In other recent news related to Wintershall DEA portfolio management, tIn January the German company said it had decided to end all operations in Brazil We closed our office in Rio de Janeiro and reiterated the growing focus on natural gas.
https://www.oedigital.com/news/494033-wintershall-dea-exits-gulf-of-suez-offshore-oil-block-after-38-years Wintershall DEA removes offshore oil from the Gulf of Suez