News
25.06.2010 PGNiG Norway expands its operations on the Norwegian Shelf
PGNiG Norway AS, a subsidiary of PGNiG SA, purchased a 10% interest in the PL 326 licence located in the Norwegian Sea from Statoil Petroleum. The agreement is pending approval by the Norwegian Ministry of Energy and Petroleum. Until such approval, Statoil will continue to hold 40% interest in the licence. Other interest holders are Norske Shell (50%), the operator, and Gaz de France SUEZ E&P Norge A/S (10%).
The licence, which covers the area where the Gro natural gas deposit was discovered, is compose of four blocks, with a total area of 1671 km2. Gas accumulations in this area were confirmed in 2009 by drilling.
Gro is a natural gas field located in the Voring Basin, in the western part of the Norwegian Sea, where the water depth exceeds 1000m. The licence is approximately 350 km off-shore (the approximate distance to the town of Sandnessjoen).
The Voring Basin, opened to exploration in 1996, is currently considered one of the most prospective areas on the Norwegian Continental Shelf. The discoveries made over the recent years are currently being documented and developed.
Natural gas reserves recoverable from the field are considered significant. An appraisal well is currently being drilled using the Aker Barents drilling platform to evaluate the resources in the area covered by the PL 326 licence. 3D seismic surveys are also to be performed in the second half of 2010 to complement the surveys made in 2004 and 2009.
Following the acquisition of interest in the PL 326 licence, PGNiG Norway may now conduct exploratory work in one of the most prospective areas on the Norwegian Continental Shelf, where significant quantities of hydrocarbons can be found. It will also help to enhance cooperation and partnership with leading oil companies, experienced in hydrocarbon exploration and production projects around the world, including projects in the deep-water reservoirs.
PGNiG Norway holds eight licences covering areas on the Norwegian Continental Shelf. Exploration projects are conducted in five of them. The Company intends to apply for further licenses granted in the 2010 APA round, provided that the licensed areas offer some exploration potantial. PGNiG Norway's objective for 2010 is to obtain three additional licenses in Norway.
In 2007, PGNiG Norway acquired interests in three production licenses in the Snadd, Skarv and Idun fields. Production from the Skarv field is to commence in H2 2011. Annual gas production from this field is planned at 0.5bn cubic meters, while crude production is to reach 0.4m tonnes. In 2011, the production is expected to amount to approximately 50% of these volumes.
PGNiG Norway AS and its license partners have discovered new gas deposits on the Norwegian Continental Shelf. The size of the Snad North deposit is estimated at 9-16bn cubic metres of natural gas. Its development is expected to start as early as in 2011.
The 2010 investment expenditure of PGNiG Norway is projected at PLN 500m.
Joanna Zakrzewska
Spokesperson for PGNiG SA
