Russia prominent in Wintershall's plans

Wintershall AG, as a midsize international oil and gas player, is thinking big. Braced by operations income that more than doubled in 2000 to 1.33 billion euros from 625 million euros the year before, the German company has a 5-year program to grow by around 50% through an ambitious campaign of exploration and development. After selling its portfolio of Canadian and UK assets in 1999, Wintershall drafted plans for E&P activities with a more international scope. Russia, Argentina, Libya, and Romania are among the areas where the outfit, based in Kassel, Germany, will devote exploration and development spending. Those outlays will average 600 million euros/year between now and 2007. Reini...

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