PGNiG UI further strengthens its position in hydrocarbon exploration on the Norwegian Continental Shelf

WARSAW, 21-Jan-2016 — /EuropaWire/ — In the APA 2015 licensing round, PGNiG Upstream International (PGNiG UI), a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, was awarded interests in four exploration and production licences, including one operatorship. Two of the licences (PL838 and PL839) are located in the Norwegian Sea, one in the North Sea (PL813), and one in the Barents Sea (PL850).

By expanding its operations to cover the three sea areas, PGNiG UI further strengthens its position in hydrocarbon exploration on the Norwegian Continental Shelf.

The eastern edge of the PL838 licence, in which PGNiG UI has been awarded a 40% interest as the operator, adjoins the Skarv field, brought onstream in 2012. Tullow Oil Norge AS and E.ON E&P Norge AS, holding a 30% interest each, are partners in the licence.

The PL839 licence, under which PGNiG UI acts as a partner (with an 11.9% interest), adjoins from the west the Skarv production licence, in which PGNiG holds an interest too. The licence operator is BP Norge AS (with a 23.8% interest), while the other partners are Statoil Petroleum AS (36.2%) and E.ON E&P Norge AS (28.1%).

The PL813 licence, in which PGNiG UI holds an 8% interest as a partner, is located near the Gina Krog production licence, where PGNiG UI also has an interest. The licence operator is Statoil Petroleum AS (with a 58.7% interest), while the other partners are Total E&P Norge AS (30%) and Det norske oljeselskap ASA (3.3%).

The PL850 licence, in which PGNiG UI has been awarded a 20% interest as a partner, is located on the Barents Sea, approximately 50 kilometres north of the coast of Norway. The licence operator is Edison Norge AS (with a 40% interest), while Lime Petroleum Norway AS and KUFPEC Norway AS are the other partners, with a 20% interest each.

The licence partners have two years (or three in the case of the PL850 licence) to perform relevant geological and geophysical investigations allowing them to make precise estimates of the hydrocarbon potential of the licences. After those periods, drill-or-drop decisions will be made.

At present, PGNiG UI holds interests in 19 exploration and production licences (including the newly awarded ones) on the Norwegian Continental Shelf. PGNiG UI’s asset portfolio comprises licences on four production fields (Skarv, Vilje, Vale, and Morvin) and two fields which are currently being developed (Snadd and Gina Krog), as well as 10 exploration licences.

As part of the APA 2015 licensing round, on January 19th 2016 the Norwegian government awarded interests in 56 exploration and production licences on the Norwegian shelf to 37 petroleum companies. Most of the licences are located on the North Sea (27), followed by the Norwegian Sea (24) and the Barents Sea (5).

SOURCE: PGNiG
Press Team
M. Kasprzaka 25 St., 01-224
Warszawa, Poland

Rafał Pazura
Head of the Press Team
tel.: +48 22 691 84 11
mobile: +48 603 207 454
e-mail: rzecznik@pgnig.pl

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