Wintershall Energía S.A. and the local state-owned energy company Gas y Petróleo del Neuquén S.A. have signed an agreement under which Wintershall, Germany’s largest internationally active crude oil and natural gas producer, increases its participation interest in the Aguada Federal block from 50% to 90%.

In March 2015, Wintershall began with an own-operated exploration campaign in Aguada Federal block and has already drilled two vertical exploration wells which are currently being tested. The exploration wells aim to provide important information about the characteristics of the crude oil and natural gas reservoir, which includes promising shale rock of the Vaca Muerta formation.

Together with the United States, Argentina is one of the most important growth regions in the field of unconventional oil and gas production. The South American country has the second-largest shale gas deposits and the fourth-largest shale oil deposits in the world.

About Wintershall

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. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. Wintershall employs some 2,500 staff worldwide from 40 nations and is now Germany’s largest, internationally active crude oil and natural gas producer.