BASF and LetterOne decided in September 2018 to merge their oil and gas companies Wintershall and DEA. Closing of the transaction is expected quite soon in the first half of 2019. Wintershall announced now the new company’s ambition to become Europe’s largest independent oil and gas producer with an increase of the average daily production with 40% from the current 575 000 boe til 800 000 boe between 2021 and 2023.
Competition to stay on the team
So far for the good news. Another consequence of the merger will be a significant downsizing. Wintershall DEA will have to reduce around 1000 jobs, 800 in Germany and 200 in Norway, mainly related to the completion of ongoing large development projects. Wintershall and DEA have together ca 650 employees in Norway now. In Sysla.no Kjetil Hjertevik from DEA Norge explains that these 100 positions include consultants and that between 25 to 75 permanent positions will disappear by mid-2020.