The companies are responsible for managing the assets, financial planning and control and business development. They are supported by an operations centre in London and in-country management.

Petro-Canada’s German oil and gas companies continue to produce solid results in 2004 from their international exploration and production assets.

Last year combined production was 137,000 boe/d. Petro-Canada invested over 100 million euros to explore for and develop crude oil and natural gas, and we worked closely with our partners in the priority areas of health, safety and environmental management.

The corporate office for the German holding companies and their international subsidiaries is located in Essen employing about 40 people.

It is the Finance Competence Centre for all of Petro-Canada’s activities outside North America. The office manages the tax, treasury, and control and accounting functions for all international subsidiaries. This includes the 11 German legal entities and over 30 legal entities in ten other countries.

Visit Petro-Canada.com to learn more