Another Four Licenses for PGNiG in Norway

Source: www.gulfoilandgas.com 1/19/2022, Location: Europe

Polish Oil and Gas Company (PGNiG) has obtained four new license areas for development on the Norwegian Continental Shelf. Over 30 oil companies from all over the world competed for them. PGNiG will act as the operator in case of three of the four newly acquired licenses. As a result, the number of licenses in Norway, in which the PGNiG Group holds shares, will increase to 62.

As a result of the annual licensing round (APA 2021), the Norwegian government eventually granted shares in more than 60 production licenses to 28 companies. PGNiG Upstream Norway, a subsidiary of PGNiG, applied for shares in four licenses and succeeded in receiving four.

“We are consistently developing our business on the Norwegian shelf. We want to produce as much of our own natural gas as possible there, which will then be delivered to Poland. That is why we are expanding our license portfolio in Norway – both through acquisitions, but also through regular participation in license rounds”, commented Pawel Majewski, President of the PGNiG Management Board. “Being awarded with four new licenses is a proof of professionalism of our Norwegian staff, because the Norwegian government grants licenses only to the best geologically and technically prepared applications. In addition, it is also important that we will be assigned the role of operator for three of the four new licenses. It is also a recognition of the competence of our specialists in Norway - they will manage the works related to the development of the fields covered by the new licenses,” he added.

Two of the newly awarded licenses are located in the North Sea. PGNiG Upstream Norway will act as the operator for both of them. In case of license PL1135, it will cover 70 % of shares, the remaining shares will belong to Lotos. In the license application it was named Sanok – after a town in Poland where PGNiG holds one of its upstream branches. In case of the PL1136 license, PGNiG Upstream Norway will share interests equally with Equinor, but will retain the operator status.

The other two license applications from PGNiG concerned areas adjacent to the fields under development, and thus, in a way, extending the existing license areas. In case of the PL1055C license, PGNiG Upstream Norway will take up 60% of the shares and the role of operator, and the remaining shares will belong to Shell. In case of PL941B, PGNiG Upstream Norway will acquire 20%, and the operator’s role with 80% of shares will be taken over by AkerBP. The license is located near the Skarv field, from which PGNiG's operations in Norway began.

Following announcement of the Awards in the Predefined Areas (APA) for 2021, the Norwegian government formally offers oil companies ownership in the licenses they applied for in 2021. Only then they officially approved by the Norwegian petroleum authorities.


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