MOSCOW (MRC) -- Mario Mehren, currently a member of the Board of Executive Directors of Wintershall responsible for Exploration & Production Russia, North Africa and South America, has been named President of BASF’s Oil & Gas division effective July 1, 2015, and in this function will be head of BASF’s subsidiary Wintershall, as per BASF's press release.
He succeeds Dr. Rainer Seele, who has been named CEO of OMV Aktiengesellschaft, Vienna, Austria, effective July 1, 2015. Seele has been head of Wintershall since 2009.
"Over the past years, Rainer Seele has contributed significantly to expanding and further strengthening the position of Wintershall as the largest internationally operating German oil and gas company. We wish him much success in his new position," said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.
As MRC wrote before, Wintershall is continuing its growth course in Norway. By acquiring shares in the production fields Gjoa (5%) and Vega (24.5%) in December 2014, Wintershall is increasing its production in Norway from about 40,000 barrels of oil equivalent (boe) to about 60,000 boe per day.
Wintershall Holding GmbH, based in Kassel, Germany, is a wholly-owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions where the company has built up a high level of regional and technological expertise. These are Europe, Russia, North Africa, South America, and increasingly the Middle East region.
BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of over EUR74 billion in 2014 and around 113,000 employees as of the end of the year.
MRC