PGNiG PGNiG acquires four new production licenses on the Norwegian Continental Shelf
Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) has announced that it has acquired four new production concession areas on the Norwegian continental shelf. PGNiG added that it will act as an operator on three of these licenses.
As a result of the annual licensing round (APA 2021), the Norwegian government has finally granted shares in more than 60 production licenses to 28 companies. PGNiG Upstream Norway, a subsidiary of PGNiG, has applied for and received shares in four licenses – and PGNiG confirmed, noting that more than 30 oil companies from around the world are competing for licenses. The results mean that PGNiG will have interests in 62 licenses in Norway.
PGNiG – Four new licenses on the Norwegian Continental Shelf
According to PGNiG, two of the newly granted licenses are located in the North Sea. Both will be operated by PGNiG Upstream Norway. In the PL1135 license, Sanok, named in the license application, will cover 70 percent. Stock, and the rest will belong to Lotos. In the PL1136 license, PGNiG Upstream Norway will share its stakes equally with Norway’s Equinor, but will retain operator status.
The other two license applications from PGNiG relate to areas adjacent to the fields under development, so – as reported by PGNiG – it is about expanding the existing license areas. In the case of a PL1055C license, PGNiG Upstream Norway would take 60 percent. The role of the operator and the remaining shares will go to Shell. In the PL941B license, PGNiG Upstream Norway will receive 20% and the operator 80%. Stock will be AkerBP.
– We are constantly developing our business on the Norwegian shelf. We want to extract as much of our natural gas as possible there, which will then be delivered to Poland. That is why we are expanding our licensing portfolio in Norway through acquisitions, but also through regular participation in licensing rounds – said Paweł Majewski, President of PGNiG, in the company announcement.
He added, “The acquisition of four new concessions proves the professionalism of our Norwegian crew, because the Norwegian government only awards concessions in response to the best prepared applications in terms of geology and technology.” – It is also important that we grant the role of operator to three out of four new licenses. Majewski emphasized that this is also a recognition of the competence of our specialists in Norway – they will manage work related to the development of areas covered by the new concessions.
PGNiG also announced that after the concession round ends, the Norwegian government will officially offer interested oil companies to take shares in the licenses that these companies applied for in 2021. Only then will it be officially approved by the Norwegian Crude Oil Administration
Main image source: unsplash
