Harbour Energy, a UK oil company, agreed to acquire the E&P business of Wintershall Dea, an operator and project partner across the entire E&P value chain, from BASF, a chemical company, and LetterOne, a long-term investment business, for $11.2bn. "Today’s announcement marks Harbour’s fourth major acquisition and the most transformational step yet in our journey to build a uniquely positioned, large-scale, geographically diverse independent oil and gas company. The addition of Wintershall Dea’s assets will increase our production to over 500 kboepd, extend our reserves life, and enhance our margins and cash flow, all supporting enhanced shareholder returns over the longer run. Importantly, the acquisition also advances our energy transition objectives by shifting our portfolio towards natural gas, lowering our GHG emissions intensity and expanding our CCS interests into new European markets," Linda Z Cook, Harbour Energy CEO.