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Wintershall Norge

WINTERSHALL NORGE

LEADING OPERATOR

Wintershall Norge is one of the leading operators in Norway. We are part of Wintershall - Germany‘s largest international oil and gas producer.Wintershall is a subsidiary of BASF.

CONTENTIntroduction . . . . . . . . . . . . . . . . . . . 4

Strong team .. . . . . . . . . . . . . . . . . . 6

Ten years of growth . . . . . . . . . . . . . 8

Our operated developments . . . . . 10

Our production . . . . . . . . . . . . . . . 12

Solid partnerships . . . . . . . . . . . . . 14

Our responsibility . . . . . . . . . . . . . . 16

Culture and values . . . . . . . . . . . . . 18

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Mario Mehren Chairman of the Board of Executive Directors of

Wintershall Holding GmbH

Energy provides the basis for our modern life. Even in 25 years’ time fossil fuels – in particular crude oil and natural gas – will continue to provide more than three-quarters of the global energy mix. To meet this huge, and in many parts of the world still rising demand for oil and gas, we need innovative technologies to produce more efficiently from con-ventional reservoirs. In addition, unconventional reserves such as shale gas and shale oil will also help to secure supplies.

The E&P sector is currently undergoing radical upheaval in many differ-ent respects. The markets for oil and gas are turbulent and will probably remain so. Lower oil and gas prices mean that E&P companies must work even more efficiently. However, Wintershall is well positioned to master these challenges.

Through exploration, partnerships and technological expertise, we are forming our worldwide business. And we do that in the areas where we are most familiar: in our core regions in Europe, Russia, North Africa and South America as well as increasingly in the Middle East. In our international energy partnerships we impress through our efficiency,

performance and innovation. A large part of the new and pioneering technologies are being developed in our home region of Germany, where production has always been geologically complex and chal-lenging. Domestic production in Germany therefore is our centre for continual innovations.

In Norway, we have a strategic partnership with Statoil and are one of the largest license holders on the Norwegian Continental Shelf. We have taken over the operatorship of the Brage platform and the Vega subsea field. With our ambition of ensuring operational excellence for further profitable production, Wintershall develops the Maria field. It will become Wintershall’s first self-operated development project to be brought into production in Norway.

The fact that we actually move the barrels from discovery to production demonstrates our long-term approach and emphasises the sustainability of our work. This way we will achieve our goal: Maintaining long-term solid growth now and in the future.

INTRODUCTION

Bernd Schrimpf Managing Director of Wintershall Norge AS

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Bernd Schrimpf Managing Director of Wintershall Norge AS

Successful at the source through efficiency, innovation

and performance

A STRONG TEAMWITH A CLEAR GOAL

A strong team steers a course towards an exciting future. Wintershall Norge, one of Norway´s leading operators, masters challenging times with the best team. With our exploration licenses, development pipeline and portfolio of producing assets, we are ideally placed to ensure operational excellence for further profitable production.

We are developing our own discovery Maria and evaluating the development options for Skarfjell. In 2013, we became the operator of a major production platform in Norway for the first time. With a second field also now under operation, we steer the complete operated upstream lifecycle from exploration, through development and production.

Building on the success of our creative and entrepreneurial colleagues, Wintershall Norge is plotting a course towards a clear goal: long-term solid growth.

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OUR AMBITIONS ARE TO:

Wintershall steers the complete operated upstream lifecycle from exploration and drilling, through development and production.

• Ensure operational excellence for further profitable production

• Maintain long-term solid growth

• Secure excellent HSEQ performance

• Strengthen expertise in all upstream operations

• Create value as a preferred and reliable partner

• Live our CORE values: being creative, open, responsible and entrepreneurial

• Foster a motivated team – best in the industry

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TEN YEARS OF GROWTH

Our history in Norway has been characterised by a string of yearly license awards making us one of the country’s largest exploration license holders. In the years since our arrival, we have made several significant discoveries incuding Skarfjell and Maria. We are now developing both of these fields.

An asset swap deal completed with Statoil in 2013 paved the way for us to become a production operator on Brage. This was a step change for the company. We now cover the full upstream, E&P value chain with operating expertise in exploration, development and production. A second agreement with Statoil in 2015 made us operator of the subsea Vega field. We became partner on the Aasta Hansteen development and increased our share in the producing field Gjøa. The partner-operated fields, Knarr and Edvard Grieg also came on stream. Together these milestones lifted our production from 3,000 BOE per day to around 80,000 barrels today.

In 2015 we reached another milestone when we submitted our plan for development and operation for Maria to the Norwegian government. When it comes onstream - planned in 2018 - Maria will be our first operated discovery we have taken through to production. In 2016 we celebrated our ten year anniversary in Norway. With the opening of our purpose-built office in Stavanger, we can truly say we are here to stay.

Since Wintershall first came to Norway in 2006, the company has significantly changed into a thriving business in the oil capital Stavanger. In October 2008, we purchased the Norwegian exploration company Revus Energy and moved our operation to the heart of the Norwegian oil and gas industry. Since then, we have built on our exploration success, adding expertise in development and production. We now cover the full upstream, E&P value chain.

MILESTONES

2006 Foundation of Wintershall Norge AS

2008 Aquisition of Revus Energy ASA

2009 Wintershall opens new main office in Stavanger

2010 Maria discovery

2012 Skarfjell discovery and asset swap with Statoil

2013 Takeover of operatorship on Brage and opening of Bergen office

2015 Wintershall takes over operatorship on Vega and submits development plan for Maria

2015 Production startup on Knarr and Edvard Grieg

2016 New main office opens in Stavanger

Wintershall Norge has more than 60 licenses on the Norwegian Continental Shelf, operating about half of them.

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OUR OPERATED DEVELOPMENTS

The own-operated discoveries Maria and Skarfjell are both the result of using new exploration techniques to uncover hidden gems in mature areas on the Norwegian Continental Shelf.

Maria on the Haltenbanken area of the Norwegian Sea is being developed as a subsea tieback using smart engineering to tie two new templates on the seabed to three existing platforms in the area. The field will become Wintershall’s first operated development in Norway brought from discovery through to production. It is also a clear example of our growing expertise in subsea technology. By tying Maria via the Tyrihans field to the Kristin, Åsgard B and Heidrun platforms, we are showing our commitment to sustainable value creation while demonstrating a flair for inventive engineering solutions.

Like Maria, Skarfjell is in an area rich with existing infrastructure meaning its subsea templates could be connected to a new standalone structure or tied back to another platform.

Location: Blocks 6406/3, 6407/ and 6507/10 in the Haltenbanken Area in the Norwegian Sea.

Discovered: 2010

Development: The development solution is to connect the reservoir to the already existing, closely located infrastructure via a subsea tie-back. The Maria field will be connected via two templates (production stations) on the sea floor to Statoil’s already producing platforms Kristin, Heidrun and Åsgard B.

Location: Blocks 35/9-7 and 35/9-8 in the Northeastern North Sea.

Discovered: 2012

Development: Skarfjell could be developed in a number of different ways. In an area rich with infrastructure and ripe with commercial discoveries, it could proceed as a tie in to existing fields or as a standalone development.

HIGHLIGHT ON MARIAHIGHLIGHT ON SKARFJELL

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Maria on the Haltenbanken area of the Norwegian Sea is being developed as a subsea tieback using smart engineering to tie two new templates on the seabed to three existing platforms in the area.

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OUR PRODUCTION

With Brage we became operator of a production platform for the first time in Norway. With Vega we repeated the challenge and now operate two Norwegian fields.

Brage and Vega came as part of two broader asset deals with Statoil that also brought us a substantial stake in the Gjøa field. With these three fields, together with Knarr, Edvard Grieg and Veslefrikk we are now producing around 80,000 barrels of oil equivalent per day, putting us amongst the major producers in Norway.

Becoming a field operator was a step change for Wintershall Norge. We have welcomed the challenges and responsibilities and we are now

pushing onto the next phase. Brage has been producing hydrocarbons since 1993. Our goal is to carry on producing for many years to come. Vega is a subsea tieback to Gjøa. We are now exploring the area around the field, searching for additional hydrocarbons that could help to extend the lifetime of both Vega and Gjøa.

On Brage and Vega, we see possibilities for new wells, technically innovative approaches to engineering, and cutting edge enhanced oil recovery techniques. Whichever way we, and our partners, approach the future of our operated fields, we know there is a lot to come.

HIGHLIGHT ON BRAGEHIGHLIGHT ON VEGA

Location: Blocks 30/6, 31/4 and 31/7 in the northern part of the North Sea.

Discovered: 1980

Development: Brage has been developed with a fixed integrated production, drilling and accommodation facility with a steel jacket.

First oil: 1993

Lifetime extension: Until 2030

Location: Blocks 35/8, 35/11, 35/7 and 35/11 in the northern part of the North Sea

Discovered: 1981

Development: Vega is made up of three separate reservoirs each with their own subsea template tied back to a processing facility at the nearby Gjøa platform.

First oil: 2010

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The Brage field is located east of Oseberg, in the northern part of the North Sea.

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SOLID PARTNER SHIPS

Wintershall’s goal is to operate as many of our assets as possible. At the same time, we will always believe in being a responsible partner. Our broad portfolio spans the length of the Norwegian coast and includes non-operated shares in exploration, development and production assets.

As one of the largest exploration license holders on the Norwegian Continental Shelf, we share our expertise with a broad range of partners searching for hydrocarbons in Norwegian waters. We are also non-operating partners in the Norwegian developments Ivar Aasen and Aasta Hansteen. Each is at a different stage of their journey towards producing oil and gas from Norway’s shelf.

After signing our asset swap agreements with Statoil, our production portfolio added a non-operated share in the Gjøa field. Wintershall also cooperates with Statoil on the Norwegian Continental Shelf on important future- oriented topics such as joint research to increase the oil recovery rate (EOR). At the moment, Wintershall and BASF are conducting research in Germany into the Schizophyllan biopolymer, which could enhance oil production.

“Wintershall Norge will always seek to maintain its position as an oil and gas partner of choice on the Norwegian Continental Shelf.”

Bernd Schrimpf, Managing Director

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Statoil’s Vice President of Operations Øystein Håland (left) with Bernd Schrimpf, Managing Director of Wintershall Norge, after agreeing on the Brage takeover in 2013.

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OUR RESPONSIBILITY

Wintershall Norge is focused on being a responsible and ethical operator. We are unwavering in our commitment to health, safety and the environment. Our responsibilities extend beyond our own operation and supply chain. We want to continue to be a positive force in Norwegian society for a long time to come.

The health and safety of our colleagues is our highest priority wherever we operate in the world. Nothing could ever be so important that we would neglect the health of our staff, the principles of safety at work or environmental protection.

As a production operator in Norway, we have important responsibilities and varied challenges. Whatever the challenges, our method remains the same: We seek to achieve our goal of zero harm to people, the environment and our assets by putting HSEQ and risk mitigation at the centre of everything we do. We make things happen.

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Wintershall Norge invests in the best technology so that we get the cleanest and most efficient production of oil and gas.

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CULTURE AND VALUES

In Wintershall Norge we make things happen. That’s why we recruit the best staff who share our ambitions and values. We invest in our employees and allow them to flourish. Wintershall believes that achieving our ambitious goals means being creative, open, responsible and entrepreneurial.

At Wintershall these are more than just words. We make things happen by putting these values at the heart of everything we do. We believe in recognising performance, providing feedback, matching professional ambition with personal objectives, and providing a stimulating environment guided by our values.

Our highly motivated and experienced colleagues believe in taking responsibility for their continuous personal development, sharing their experiences in an open environment and respecting and motivating their colleagues. As one of the leading oil and gas companies in Norway, we need to continue to attract and retain the best people in the industry.

We have built a new main office in Stavanger which opens in 2016.

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WE MAKE THINGS HAPPEN

RESPONSIBLE FOR THE CONTENTWintershall Norge AS

Contact us if you want to discover more about our company, need additional information, or have questions about Wintershall.

Tel.: + 47 51 82 24 00info@wintershall.no

Wintershall Norge AS Postboks 230, sentrum 4001 Stavanger, Norwaywww.wintershall.no

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