Wintershall Dea Talks Performance, Carbon Management in 2023 Annual Conference

In 2022, Wintershall Dea had a positive year for exploration. “In Egypt, we found gas at East Damanhour, and added a new exploration block to our portfolio in North West Abu Qir,” Mehren said.

Moreover, Paul Smith, CFO and Board Member at Wintershall Dea, stated that the company is operating in onshore and offshore fields in Egypt that are located near existing infrastructure. “Egypt is an important area for the company, it is our third largest producing area today, but it has medium-term decline,” he said, indicating that Wintershall Dea is looking at all opportunities in Egypt, ranging from infrastructure led-exploration onshore and offshore, maximizing value creation through existing facilities, “and we will continue to look at other opportunities within Egypt, which we believe is one of our core areas that we would like to sustain.”

In terms of the company’s production, Wintershall Dea’s total output, except for Russia, has recorded 321,000 barrels of oil equivalent per day (boe/d) in 2022. The company is further targeting moderate production growth to achieve 350,000 – 400,000 boe/d production in the midterm.