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German Wintershall bets on Russia for its outcoming growth

In order to advance its successful exploration and acquisition activities more rapidly, Wintershall will increase the effectiveness of its organization in the future.

 

In order to advance its successful exploration and acquisition activities more rapidly, Wintershall will increase the effectiveness of its organization in the future. The previous Ressorts of the Board of Executive Directors entitled 'Exploration and Development' and 'Production' will thus be merged and the corresponding divisions and departments will be more closely interlinked at an organizational level. With this measure, Wintershall is stepping up its efforts to meet its ambitious growth targets for the years to come.

 

From 1 April 2010 onward, alongside the Ressort of Wintershall's Chairman of the Board of Executive Directors, Dr. Rainer Seele, there will only be one Ressort in the Board of Executive Directors for the area of exploration & production of oil and gas, to be headed by Martin Bachmann. Dr. Ties Tiessen, previously Executive Director responsible for production, will manage the finance department in the future. In addition, Tiessen will continue to be responsible for the Wintershall Group's business in Russia, due to the exceptional significance of this core region. This ensures continuity for the activities in Russia, which were successfully bundled in 2008. The fourth Ressort of the Board of Executive Directors, for natural gas trading, will still be managed by Dr. Gerhard König.

 

With the new structure, the tasks within the Board of Executive Directors are defined more clearly and the interfaces within the previous E&P divisions are reduced. The E&P department will now be responsible for oil and gas production's entire value creation chain, from the discovery of new reserves, to the development of the company's existing reserves, through to production and acquisition activities.

 

Source : OilVoice