NEW BU MENA KICKS OFF WORK

• Change is part of broader company restructuring
• Sameh Sabry appointed as SVP MENA

As of 1 February, activities in Algeria, Egypt, Libya and the United Arab Emirates will in future be led under a joint business unit for the MENA region. These changes to the company’s international business are part of the broader company restructuring announced in September 2023.

Sameh Sabry has been appointed to lead the newly established business unit. With 23 years of experience, including several leadership positions in MENA countries and Germany, Sameh Sabry brings extensive expertise and regional insights to his new position. Since 2019, he assumed his latest position as Senior Vice President and Managing Director of Wintershall Dea’s business unit in Egypt. Before that he was the Managing Director of Wintershall Dea’s business unit in Algeria.

Sameh Sabry says: “Our long-standing activities in the MENA region are characterized by trust, partnership and cooperation. We see the new MENA BU as the right setup and path into the future, towards new technologies and opportunities.” Within the MENA BU, Thomas Ruttmann will be responsible for Wintershall Dea’s activities in Algeria and Libya, Jan Himmerkus for the United Arab Emirates

Wintershall Dea’s activities in the MENA region started in Libya in 1958. The company has been a partner in Algeria since 2002 and will celebrate its 50th anniversary in Egypt in 2024. The company supports its operating countries by supplying energy which is crucially needed and developing low-carbon energy solutions on the path to a net-zero world.

Recent developments:

The shareholders of Wintershall Dea (BASF and LetterOne) and Harbour Energy plc (Harbour) signed a business combination agreement in December 2023 to transfer Wintershall Dea’s E&P business and carbon capture and storage (CCS) licenses to Harbour. Closing of the transaction is targeted for the fourth quarter of 2024. In parallel, the restructuring of Wintershall Dea announced in September, which is intended to contribute to a stronger focus on the company’s strategic priorities, will be partially implemented following the sale announcement.

About Wintershall Dea

Wintershall Dea is transforming from the leading European independent gas and oil company to become a leading European independent gas and carbon management company. We have more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 11 countries worldwide in an efficient and responsible manner. With activities in Europe, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business. And we develop carbon management and low carbon hydrogen projects to contribute to climate goals and secure energy supplies.  More in our Annual Report.

As a European gas and oil company, we support the EU’s 2050 carbon neutrality target. As our contribution we have set ourselves ambitious targets: We want to be net zero across our entire upstream operations – both operated and non-operated – by 2030. This includes Scope 1 (direct) and Scope 2 (indirect) greenhouse gas emissions on an equity share basis. Wintershall Dea will also bring its methane emissions intensity below 0.1 per cent by 2025. We endorsed the World Bank’s Initiative ‘Zero Routine Flaring by 2030’ and continue to support the initiative aimed at eliminating routine flaring in operated assets by 2030. In addition, we plan to support global decarbonisation efforts by building up a carbon management and hydrogen business to potentially abate 20-30 million tonnes of CO2 per annum by 2040. You can find more about this in our Sustainability Report.

Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs more than 2,000 people worldwide from almost 60 nations.

The shareholders of Wintershall Dea (BASF and LetterOne) and Harbour Energy plc (Harbour) signed a business combination agreement in December 2023 to transfer Wintershall Dea’s E&P business consisting of its producing and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding Ravn) as well as Wintershall Dea’s carbon capture and storage (CCS) licenses to Harbour. Until closing, Wintershall Dea and Harbour will continue to operate as independent companies. The transaction is, among other things, subject to approvals of merger control and foreign investment authorities in several countries. Subject to these regulatory approvals, closing is targeted for the fourth quarter of 2024. See the full BASF release here.

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