Lotos and PGNiG team up for Norway gas exploration
PR dla Zagranicy
John Beauchamp
12.05.2014 12:04
Lotos Exploration & Production Norge and PGNiG Upstream International and signed a cooperation agreement for the exploration of gas on the Norwegian Continental Shelf.
photo - CC
photo - CC
The Polish refiner and gas giant will together carry out analyses, undertake potential acquisitions, as well as submit joint applications for exploration concessions, the companies announced.
The move comes as last year, Lotos Norge purchased 14 concession on the Noregian Continental Shelf, with further acquisitions expected in the next two years.
PGNiG subsidiary Upstream International also holds 14 concessions on the Norwegian Continental Shelf, operating two of them. In 2012 the PGNiG also started its first foreign extraction as part of the Norwegian Skarv project, of which it holds 11.9 percent.
In 2013, PGNiG extracted around 2.2 million barrels of oil and 350 million square metres in its Norway fields. (jb)
Source: PAP