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Wintershall has no plans to broaden cooperation with Russia’s Lukoil

PARIS, June 2. /TASS/. German energy company Wintershall does not plan to broaden cooperation with Russia’s oil and gas producer Lukoil, Chief Executive Officer of Wintershall Mario Mehren said on Tuesday.

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Cooperation with Lukoil’s subsidiary Ritek is fairly good and is related to use of advance technologies in oil production, Mehren said. However, no new projects in the oil production sphere are discussed outside the framework of the established relationship, he added.

Lukoil will hardly be interested in involving the German company in its gas projects in the Caspian offshore, Wintershall’s CEO said. "As far as I understand, they do not need a partner in that area. We are viewing the oil production sphere only in our cooperation with Lukoil," Mehren added.

Furthermore, "the fact remains that many possible investments are difficult because of sanctions and due to the recession in the Russian economy," Mehren said. "This is the situation where both parties are losing," he added.

TASS reported earlier Gazprom and Wintershall abandoned the completion of the asset swap deal at the turn of 2014.

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