BASF and LetterOne announced their agreement to appoint Paul Smith as future chief financial officer (CFO) and member of the Management Board of Wintershall DEA. The appointment will take effect on closing of the merger of Wintershall and DEA, which is expected in the first half of 2019 and is still subject to customary regulatory approvals.
Paul Smith has over 25 years of extensive international experience in the oil and gas industry having worked for Vesta Energy, Talisman Energy, and BP, and having held positions in Calgary, Trinidad and Tobago, London, Aberdeen and Russia.
For the last two years Smith has been the CFO and executive vice president, Corporate Development at Vesta Energy, a private oil and gas company based in Calgary.
Wintershall DEA will have exploration and production activity in 13 countries across Europe, Latin America, North Africa and the Middle East. The combined business would have had pro-forma production of approximately 575 MMboe/d in 2017.