On 11 December 2015, representatives of the Gazprom International group of companies, Gazprom's sole specialised operator for the implementation of international upstream projects, met with representatives of Wintershall, a 100 per cent subsidiary of the German chemical concern BASF.
The meeting was organised in Berlin by Gazprom International Germany GmbH (part of the Gazprom International Group) to mark the completion of an asset swap between Gazprom and Wintershall Holding GmbH.
The event was attended by a delegation from Gazprom International's offices in Amsterdam, St. Petersburg and Moscow, and representatives of the companies Wintershall Holding, Wintershall Noordzee B.V. (WINZ), Wintershall AG and a number of other partners in the Russian-German projects.
In their addresses, Rustem Yusupov, the head of Gazprom International Germany GmbH, and Robert Frimpong and Kirill Silkin, Managing Directors of WINZ, stressed the importance of the asset swap for the effective development of their collaboration and expressed confidence in further fruitful cooperation between the companies’ shareholders.
Wintershall Noordzee B.V. is one of the oldest oil and gas operators in the North Sea region. The company's portfolio includes more than 50 licences for the prospecting, exploration and production of hydrocarbons in the Dutch, British and Danish sectors of the continental shelf. As a result of this deal, Gazprom International and Wintershall Holding will enter into a 50-50 joint venture.
A legally binding basic agreement between PJSC Gazprom and Wintershall Holding GmbH on the asset swap was signed on 14 November 2012. The final agreement was reached on 30 September 2015.
As a result of the swap, Wintershall was allocated 25.01% of the project for the development and exploitation of blocks 4A and 5A of the Achimov deposits in the Urengoy oil, gas and condensate field. Gazprom International, in turn, received a 50 per cent share in Wintershall Noordzee B.V. (WINZ) and in Wintershall Services B.V. (WIS), an enterprise that specializes in the provision of engineering and technical personnel to work on WINZ's platforms in the North Sea.
Gazprom International operates in the North Sea as part of a consortium to develop the Wingate gas field, which the company entered into in September 2012 with a 20% share. The project operator is WINZ (49.5%), with the remaining shares held by Gas Union with 15.0% and XTO UK with 15.5%.
Gazprom International is part of international consortiums involved in gas projects in the North Sea focused on two prospective structures: Winchelsea and Sillimanite.