{"id":543528,"date":"2022-02-06T04:00:24","date_gmt":"2022-02-06T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/"},"modified":"2022-02-06T04:00:24","modified_gmt":"2022-02-06T04:00:24","slug":"wintershall-dea-exits-gulf-of-suez-oil-concession","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/","title":{"rendered":"Wintershall Dea exits Gulf of Suez oil concession"},"content":{"rendered":"

Wintershall Dea is now an ex-oil producer in Egypt:<\/strong> Wintershall Dea divested its stake in its Gulf of Suez oil concession to the Egyptian General Petroleum Corporation (EGPC) on 1 January, it said in a statement<\/a> Thursday. The German oil and gas company operated the concession as part of a 50\/50 joint venture with the state-owned company for almost 40 years. The transfer leaves EGPC as the sole owner of the concession. The statement did not put a figure on the value of the transaction.<\/p>\n

Pivot to gas:<\/strong> The decision to divest from the concession coincides with Wintershall\u2019s move to focus on natural gas, which now accounts for the majority of its global portfolio. The company has a 17% interest in BP\u2019s large West Nile Delta gas project and operates the onshore Disouq gas concession as part of a 50\/50 JV with EGPC.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wintershall Dea is now an ex-oil producer in Egypt: Wintershall Dea divested its stake in its Gulf of Suez oil concession to the Egyptian General Petroleum Corporation (EGPC) on 1 January, it said in a statement Thursday. The German oil and gas company operated the concession as part of a 50\/50 joint venture with the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[557,93,72,7128,91,821],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543528","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-egyptian-general-petroleum-corporation","tag-energy","tag-enterpriseam","tag-ma-watch","tag-oil-and-gas","tag-wintershall-dea","wpautop","entry"],"acf":{"mongo_id":"276e5ff7-fdee-4383-a457-0ec926494993","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543512],"teaser":"","voice_url":""},"yoast_head":"\nWintershall Dea exits Gulf of Suez oil concession - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wintershall Dea exits Gulf of Suez oil concession\" \/>\n<meta property=\"og:description\" content=\"Wintershall Dea is now an ex-oil producer in Egypt: Wintershall Dea divested its stake in its Gulf of Suez oil concession to the Egyptian General Petroleum Corporation (EGPC) on 1 January, it said in a statement Thursday. The German oil and gas company operated the concession as part of a 50\/50 joint venture with the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-06T04:00:24+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Wintershall Dea exits Gulf of Suez oil concession\",\"datePublished\":\"2022-02-06T04:00:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\"},\"wordCount\":148,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Egyptian General Petroleum Corporation\",\"energy\",\"EnterpriseAM\",\"M&A Watch\",\"oil and gas\",\"Wintershall Dea\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/\",\"name\":\"Wintershall Dea exits Gulf of Suez oil concession - 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