Wintershall

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Wintershall Holding AG
Type Public
Founded 1894
Headquarters Kassel, Germany
Key people Dr. Rainer Seele
Net income 2.4 billion (2005)
Employees ~1.700 (2005)
Website Official website

Wintershall AG is the largest crude oil and natural gas producer in Germany. The company is based in Kassel, Germany. Wintershall is a wholly owned subsidiary of BASF, based in Ludwigshafen. The name Wintershall is derived from the surname of the enterprise co-founder Carl Julius Winter and the celtic word for salt (hall) together.

The company made a profit of 2.4 billion euro in 2005 [1]. In 2005, the company had 1,700 employees worldwide[2]. The Chairman of the board of Executive Directors is Dr. Rainer Seele [3].

History

The drilling company Wintershall was established in 1894 by the industrialist Heinrich Grimberg and the drilling contractor Carl Julius Winters. Originally the company worked on the mining of potash. In 1930, the accidental leaking of oil into one of the potash pits added oil production to the list of company activities. Because of increased oil demand, Wintershall concentrated on oil production. During the 1950s Wintershall started natural gas production. In 1969 Wintershall AG became a subsidiary of BASF. The potash mining was sold to Kali & Salz AG. During the 1990s natural gas production by Wintershall AG expanded. In the autumn of 1990 Wintershall started cooperation with the Russian gas company, Gazprom, and concluded a long-term agreement on the marketing of Russian natural gas in Germany. In 1993, WINGAS GmbH, the joint venture of Wintershall (50% plus one share) and Gazprom (50% minus one share) was established. In 2005, Wintershall, Gazprom and E.ON Ruhrgas agreed to build the Nord Stream natural gas pipeline from Russia to Germany. In 2006, Wintershall got a stake in Yuzhno-Russkoye gas field.

Fields of activity

The activities of Wintershall cover two ranges: exploration and production of oil and natural gas, and the natural gas trade, which includes also transport and storage.

In exploration and production the emphasis of the activities lies in Western Europe, North Africa, South America and Russia.

References

  1. ↑ Wintershall-Gruppe: balance to 31 December 2005 (pdf, 300kb)
  2. ↑ hr-online: property of contacts to Siberia pay themselves out , conditions: August 2006
  3. ↑ WINTERSHALL: executive committee/supervisory board, conditions: August 2006

External links


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