WINTERSHALL & BP: RAIDERS OF THE LOST ARK

BASF energy production unit Wintershall says it is teaming with BP to produce oil and gas in the Middle East and North Africa, focusing on new and existing BP projects in the region.

Wintershall says it wants to considerably increase its activities in the region despite continuing political turmoil there, in the hopes that the area eventually will complement the company's core markets in the Norwegian North Sea and Russia.

Wintershall also eyes further asset buys off Norway to boost output.