Russian gas and oil For Europe
Over the next few years, Wintershall Dea will invest several billions of euros in maintaining and expanding production in Russia.
Wintershall Dea intends to produce up to 750,000 barrels of oil equivalent (boe) per day by 2023. Currently, the daily production volume is about 590,000 boe. To achieve this goal, several billion euros are to be invested over the next few years. For Wintershall Dea, Russia is one of the most important core regions in its portfolio and the region with the largest planned production increase. A large part of the investments will therefore go into the Russian business. Russia, with its huge natural gas reserves, is an important energy partner for Europe. Natural gas is the cleanest conventional energy source and helps to reduce CO2 emissions and thus protect the climate.
Wintershall Dea and Gazprom are using their combined know-how and expertise to develop the difficult-to-access reserves in the Achimov Formation in the Urengoy natural gas field in Western Siberia, one of the largest in the world. Achim Development, the latest joint venture between Wintershall Dea and Gazprom, is now developing the blocks 4A and 5A of the Achimov Formation. The first significant production volumes are expected in 2021.
At the end of 2007, Gazprom and Wintershall commenced production from the Yuzhno-Russkoye gas field. Wintershall was thus the first German company to produce natural gas directly in Western Siberia. The field consists of four rock strata bearing natural gas and condensate: Turonian, Cenomanian, Lower Cretaceous and Jurassic. Plateau production from the Cenomanian layer was already reached in 2009 with around 25 billion cubic metres of natural gas per year. Since 2020, Severneftegazprom is carrying out large-scale development of the Turonian layer, with the aim to increase the plateau production at Yuzhno-Russkoye field.
The Nord Stream Baltic Sea pipeline, with an annual transport capacity of 55 billion cubic metres of natural gas, has been connecting Siberia’s gas reserves directly with Germany since 2011. Nord Stream 2 will create another supply route for the safe and environmentally friendly transport of natural gas from Russia to Europe. Against the backdrop of rising gas consumption and declining production in Europe, new connections will cover the continent’s energy requirements in the long term. With the commissioning of Nord Stream 2, the combined capacity of the two pipelines through the Baltic Sea can be increased to 110 billion cubic metres of gas per year. As one of five Western European companies, Wintershall Dea is financing the project with up to 950 million euros, thus contributing to a secure energy future in Europe.