Harbour Energy plc finalized the acquisition of Wintershall Dea's exploration and production (E&P) business, excluding Russia-related activities. The transferred assets include production, development, and exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt, and Denmark (excluding Ravn). Additionally, Wintershall Dea’s carbon storage licenses (CCS) are part of the deal, according to the company’s statement.

This transfer follows a December 2023 agreement between Harbour Energy and Wintershall Dea’s shareholders, BASF and LetterOne, to merge the two businesses. After obtaining regulatory approvals, the transaction has been successfully completed.

Wintershall Dea retains stakes in Russian joint ventures, Wintershall AG in Libya (51% share), Wintershall Noordzee BV in the Netherlands (50% share), and Nord Stream AG (15.5% share). In January 2023, Wintershall Dea announced its withdrawal from Russian activities. With the Harbour Energy transaction now completed, Wintershall Dea will focus on managing claims related to the expropriation of Russian assets, selling its remaining holdings, and restructuring its organization. The company will also close its headquarters in Kassel and Hamburg, while offering transitional services to Harbour Energy for up to 12 months.

Stefan Schnell, previously Senior Vice President of Group Reporting & Performance Management at BASF SE, and Larissa Janz, formerly Vice President of Special Projects at Wintershall Dea, will lead the company as Chairman and Deputy Chairwoman of the Management Board, respectively. Former CEO Mario Mehren, COO Dawn Summers, and CFO Paul Smith have resigned from their roles.

Schnell expressed gratitude to the departing management and praised the team for their professionalism amidst challenges. "We now focus on divesting remaining assets, supporting Harbour Energy, and preparing to close our headquarters," he said.

Around 800 employees will be affected by the headquarters’ closure. In June 2024, the company and employee representatives reached an agreement on a social plan and compensation for job losses, including external support services like career counseling. Initially, 300 employees will remain to provide transitional services, with approximately 30 staying on for the mid-term wind-down process.

Wintershall Dea AG will soon change its legal form from a stock corporation (Aktiengesellschaft) to a limited liability company (GmbH), operating as Wintershall Dea GmbH.