Winterhsall, a subsidiary of German chemicals group BASF, said on Wednesday that it aims to expand into Brazil’s booming offshore sector, according to Reuters.
The energy unit of BASF, Wintershall plans to participate in Brazil’s upcoming offshore licensing rounds. And it is open to teaming up with other firms in joint ventures.
It is also on the verge of a merger with rival oil and gas E&P firm Deutsche Erdoel AG (DEA) in a multibillion-euro deal.
It already has a global footprint embracing Russia, Argentina, Norway, Libya and Germany.
“The Brazilian coastline is viewed as one of the world’s most promising oil regions,” said Wintershall’s CEO Mario Mehren.