Although the low oil price is pressuring oil companies to cut investments, optimism is still alive, and the German oil and gas producer Wintershall is now using this time to strengthen its position in the southern part of the North Sea, notes the company.

Meanwhile the company's bet on expanding the Danish oil field Ravn is on track. Wintershall is the operator of the field with 63.3 percent of the license, and along with the Danish State's oil and gas company Nordsøfonden, Wintershall will invest USD 212.5 billion in expanding the field with an unmanned platform with two wells and their production.