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Wintershall eyes Argentine horizon



By Upstream staff 

German player Wintershall is poised to expand its operations in Argentina, according to media reports.

"The country has plenty of reserves and enormous demand but not yet enough production capacity," Ties Tiessen, a member of Wintershall's board, told German business daily Handelsblatt.

"We will try for more exploration rights in Argentina," he added. "We see opportunities in the domestic market, but also believe that Argentina will become an exporter in the medium term from a net importer."

Wintershall has invested $560 million in Argentina since 1993 and plans to plough in a further $223 million by 2009.

Tiessen added that if additional opportunities arose, Wintershall was, in principle, prepared to invest more.

Wintershall is the oil and gas arm of German giant BASF.


Tuesday, 04 October, 2005, 07:51 GMT  | last updated: Tuesday, 04 October, 2005, 07:51 GMT

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