ORLEN Group acquires stake in carbon dioxide storage project in Norway

PGNiG Upstream Norway of the ORLEN Group has signed an agreement with Horiosnt Energi AS to acquire a 50% interest in the CO2 exploration licence Polaris in the Barents Sea. The transaction marks a significant step in advancing the Group’s emerging business line focused on the management of industrial CO2 emissions. Polaris stands out as one of the most advanced carbon storage projects on the Norwegian Continental Shelf.

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ORLEN Group's strategic transaction in Norway

PGNiG Upstream Norway, a company of the ORLEN Group, is set to assume control of the entire operations of the hydrocarbon producer KUFPEC Norway. Following this transaction, the ORLEN Group's natural gas output in Norway will increase by one-third, reaching over 4 billion cubic meters (bcm) annually. Daily hydrocarbon production is anticipated to surpass 100 thousand barrels of oil equivalent (boe) by the end of 2024. The newly acquired business encompasses interests in five fields where the ORLEN Group is already active. The gas produced from these fields will be transported to Poland via the Baltic Pipe pipeline.

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ORLEN Group to increase oil and gas production from the Gina Krog field

Together with concession partners, PGNiG Upstream Norway from ORLEN Group has discovered additional gas reserves near the producing Gina Krog field. The discovered additional resources (gross) are estimated to 0.8-2.6 million cubic meters oil equivalents. By using the existing production infrastructure, it will be possible to start exploitation of the new resources later this year.

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More gas from Norway – the ORLEN Group starts production from the Tommeliten A field before the date scheduled in the Plan for Development and Operation

The ORLEN Group has commenced production from the Tommeliten A field on the Norwegian Continental Shelf. It will provide the Group with an additional 0.5 billion cubic metres of natural gas annually, to be delivered to Poland via the Baltic Pipe pipeline. The production startd nearly six months ahead of the scheduled date, means that gas from Tommeliten A will contribute to Poland's energy security already this heating season.

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ORLEN increases LNG import capacity

ORLEN will be able to receive up to 58 shipments of liquefied natural gas per year at the Floating Storage Regasification Unit (FSRU) terminal to be built in the Gulf of Gdansk. The company has finalized an agreement with GAZ-SYSTEM to reserve a regasification capacity of 6.1 billion cubic metres (bcm) per year at the Gdansk terminal. This is another step in the process of strengthening the energy independence of the country and the region.

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Oil from Norwegian fields will flow to ORLEN Group refineries

ORLEN Group has secured further oil supplies from Norwegian deposits in the North Sea. The contract, signed with bp, provides for the supply of up to 6 million tons of crude during its one-year term, for ORLEN Group refineries. The first oil tanker will arrive at Naftoport in Gdansk next quarter. The measures taken are a continuation of the diversification of crude supplies carried out by the company over the past five years. Currently, 100 percent of crude oil comes to Poland from directions other than Russia, including North Sea, West Africa, the Mediterranean basin, as well as the Arabian and Mexican Gulf.

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ORLEN Group ramps up its production potential in Norway

PGNiG Upstream Norway of the PKN ORLEN Group has acquired interests in two fields on the Norwegian Continental Shelf. The transaction is consistent with the Group’s strategic objective of increasing its own gas production volumes to boost Poland’s energy security and independence.

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ORLEN Group increases its oil reserves in Norway

The Øst Frigg Beta/Epsilon discovery, where the ORLEN Group's PGNiG Upstream Norway is a licence partner, may contain twice as much oil as previously assumed. The recent discovery increases total resources of Yggdrasil and is considered as a possible tie-in to the development – one of the largest projects currently developed on the Norwegian Continental Shelf. The ORLEN Group is a partner in the Yggdrasil development.

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ORLEN Group integrates its production assets in Norway

In early May, PGNiG Upstream Norway acquired the production assets of LOTOS Exploration and Production Norge, the ORLEN Group’s other Norwegian-based company. The consolidated entity is a top ten company operating on the Norwegian Continental Shelf in terms of hydrocarbon reserves and production, accounting for half of the Group’s output. The integration of upstream operations will facilitate investments that will help increase hydrocarbon production and further strengthen the ORLEN Group’s position in Norway, a market of key importance to Poland’s energy security.

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