Maria Moraeus Hanssen has been appointed as Chief Executive Officer and chair of DEA's management board, Germany-based Deutsche Erdoel AG (DEA) announced Thursday.
Hanssen succeeded Thomas Rappuhn, who hands over his office after 12 years on the executive board, the last eight years of which he acted as the company's CEO, the press release said.
According to the press release, Hanssen announced that it was a time for a change on her first day and declared that her main task will be to ensure the company continues to operate safely. She also said she intends to deliver on business goals while the company adapts to new conditions, in parallel with talks between LetterOne and BASF to merge DEA and Wintershall, Germany's largest crude oil and natural gas producer that is a wholly-owned subsidiary of BASF.
LetterOne, the investment vehicle of Russian billionaire Mikhail Fridman, owns DEA.
In December 2017, BASF, the German chemicals group, agreed to merge its subsidiary Wintershall energy unit with DEA in a multi-billion-euro deal to create one of Europe’s largest independent oil and gas producers.
The company proclaimed in the press release that discussions with BASF towards a final agreement to merge DEA and Wintershall are ongoing.
“It is not immoral to explore, develop and produce oil and gas. It is difficult and challenging, and for many, many years, oil and gas will still be a prerequisite for keeping the society going. Oil and gas companies' biggest challenge is still not declining demand, but how to find more oil and gas to compensate for the natural decline from existing fields,” Hanssen said in the press release.
By Muhsin Baris Tiryakioglu
Anadolu Agency
energy@aa.com.tr