Wintershall Dea Egypt’s external revenues reach €103M in Q3 2022
Wintershall Dea announced its external revenues in its Egypt profile to record €103 million in Q3 2022, compared to €99 million recorded in Q3 2021.
In its Middle East/ North Africa operation, including those in Egypt, Libya, Algeria, and the United Arab Emirates (UAE), the average production, excluding Libya offshore, reached 47 million barrels of oil equivalent per day (mboe/d), compared to 65 mboe/d in Q3 2021.
“The overall production in the Middle East/North Africa region was lower mainly due to the assignment of the entire interest in the Gulf of Suez to the Egyptian General Petroleum Corporation (EGPC),” the company said.
On the other hand, Wintershall Dea’s overall production average increased to reach 614 mboe/d in Q3 2022, compared to 588 mboe/d in Q3 2021.
“Q3 was a busy quarter and we have made progress in many areas,” Wintershall Dea CEO Mario Mehren said. On 24 October 2022, Wintershall Dea acquired a 37% non-operated participating interest in the Hokchi block in Mexico in an agreement with Hokchi Energy. “We are delivering on our growth plans for Mexico. This early-stage production asset will contribute valuable barrels for many years to come.”
This comes as Wintershall Dea held a media call on 25 October 2022, during which Mehren called for more investment in the expansion of the energy industry. “Importers need to be able to conclude long-term supply contracts again. This would stabilize markets and encourage investment,” Mehren noted.