PGNiG Group’s Q1 2018 performance stable, revenue up 14% y/y
Q1 2018 net profit at PLN 1.57bn on revenue of PLN 13.25bn. Share of gas from across Poland’s eastern border continued to decline, from 84% to 78% of total imports over the year. Volumes of LNG imports to Poland up 31% over Q1 2017.
New gas field near Rzeszów
Polskie Górnictwo Naftowe i Gazownictwo S.A. obtained commercial gas flows from the Królewska Góra-1K borehole, located in Budy Głogowskie, Rzeszów county. The Company estimates that the new deposit may yield approximately 20 mcm of high-methane gas per year.
development plans for the Ærfugl and Skogul fields approved
The Norwegian Ministry of Petroleum and Energy has approved the geological documentation and development plans for two fields in which PGNiG Upstream Norway holds interests. Production is planned to begin in 2020.
PGNiG and ORLEN Upstream continue exploration for natural gas in the region of Wielkopolska
Polish Oil and Gas Company (PGNiG) and ORLEN Upstream commenced drilling of another well under their joint project Płotki. Work on the Chwalęcin-1K borehole will take approximately 80 days. In addition, the two companies are getting ready to develop another field.