Wintershall Dea quits Brazil, Argentine shale

The German independent is overhauling its Latin American portfolio

Germany’s Wintershall Dea will quit Brazil and divest its Argentine shale assets as it seeks to focus on gas production and slash emissions. But the firm will retain its Mexican oil production. Wintershall has opted to terminate all its exploration activity in Brazil and close its Rio de Janeiro office. The company has stakes in nine Brazilian exploration licences—four of which it operates—across the Potiguar, Ceara, Campos and Santos basins. The German independent has no remaining work or financial commitments for those licences and is keen to ensure a “smooth transition” by working with its partners and the Brazilian authorities. Wintershall is also divesting both of its operated shale oil