Wintershall Awarded New Exploration License in Qatar

Wintershall, a company engaged in oil and gas exploration and production, has signed an agreement with Qatar Petroleum regarding an exploration license for Block 3 in Qatar’s territorial waters.

With a 40% share, the German oil and gas producer will be the operating company for the exploration activities off the coast of the Qatar Arabian Peninsula.

The other partners are the Japanese company Cosmo Oil (35%) and Indonesia’s Pertamina (25%). Offshore Block 3 covers an area of about 1,700 square kilometers. 3D seismic surveys, as well as exploration and appraisal wells, are planned for the area over the next few years, with drilling expected to commence in 2009.

Bernhard Schmidt, member of the board of Wintershall responsible for exploration and development, said: “We have been pursuing exploration prospects and the development of reserves off the coast of the emirate of Qatar, which has substantial oil and gas reserves, for some time now. And since we have had very constructive co-operation with the Qatar government and the state oil company Qatar Petroleum in the last few years, we are, of course, very pleased that our activities in Qatar are gaining a second foothold.”