September 20, 2014 11:44 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Wintershall AG

Company Overview

Wintershall AG engages in the exploration, development, and production of crude oil and natural gas. It also involves in the trading of natural gas in Europe. The company markets crude oil and natural gas storage capacity, natural gas transport capacity, and fiber optic capacity. The company was formerly known as Bohrgesellschaft Wintershall and changed its name to Wintershall AG in January, 1929. The company was founded in 1894 and is based in Kassel, Germany. It operates in Europe, North Africa, South America, and Russia. Wintershall AG operates as a subsidiary of Wintershall Holding GmbH.

Friedrich-Ebert-Strasse 160

Kassel,  34119

Germany

Founded in 1894

Phone:

49 561 301 0

Fax:

49 561 301 1702

Key Executives for Wintershall AG

Chairman of the Board of Executive Directors
Age: 54
Chief of Finance and Member of the Board of Executive Directors
Age: 57
Member of the Board of Executive Directors and Chief Executive Officer of VNG
Age: 60
Board Member and Chief Executive Officer of Wingas
Age: 48
Chief Executive Officer of Plant Science Business and President of Plant Science Business
Compensation as of Fiscal Year 2014.

Wintershall AG Key Developments

Wintershall Announces Personnel Changes

Wintershall's strategy is to expand exploration and production of oil and gas. To reflect this strategic orientation more strongly, the following organizational changes will be made effective September 1, 2014: Mario Mehren, who has been in charge of Wintershall's Russian business, will also assume responsibility for the core regions of South America and North Africa. Martin Bachmann will manage core business in Europe, with the production regions Germany, the Netherlands and Norway. Bachmann will also build operations in the development region of the Middle East. Chief Financial Officer Ties Tiessen will take over responsibility for natural gas transport and transit pipelines, including the Nord Stream, South Stream and OPAL/NEL projects. Rainer Seele will remain Chairman of the Board of Executive Directors. There will also be changes at the top of some operating companies (OPCOs) of Wintershall effective September 1, 2014: Andreas Scheck, up to now Head of the Operations department in Germany, will take charge of Wintershall Deutschland in Barnstorf. Joachim Pannel will take over management of a new division at headquarters in Kassel. Robert Frimpong, previously Vice President Technology, will assume responsibility for the Business Unit Netherlands in Rijswijk. His predecessor Gilbert van den Brink stays Managing Director of Wintershall Nederland B.V. Thilo Wieland, up to now Vice President Strategy and Portfolio Management, will become General Manager of Wintershall Libya. He succeeds Uwe Salge, who will move to Abu Dhabi as Head of Wintershall Middle East. Klaus Langemann, to date General Manager in Middle East, will take charge of a new unit at headquarters in Kassel.

Wintershall AG Announces Audited Earnings Results for the Year Ended December 31, 2013

Wintershall AG announced audited earnings results for the year ended December 31, 2013. For the year, revenues were RUB 54,395 million against RUB 11,873 million a year ago. Profit was RUB 3,045 million against RUB 6,971 million a year ago.

Wintershall AG Announces Earnings Results for the Year 2013; Provides Sales Guidance for 2014

Wintershall AG announced earnings results for the year 2013. For the period, the company boosted its net profit by 48% to EUR 1.8 billion (USD 2.51 billion) in 2013, helped by increased gas production in Russia. Revenue grew 16% to EUR 14.8 billion. The company provided sales guidance for 2014. In 2014, the company expects oil price to be at the same level as the prior year. Sales are seen considerably below the 2013 level as a result of the divestiture of the gas trading and storage business planned for the middle of the year.

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