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The annex was signed for an indefinite term, and the value of the agreement, following the annex's execution, in the period November 2013 to December 2015 stands at approximately PLN 1.4bn. The oil will be supplied by the Lubiatów and Dębno facilities. The supplies will be transported via pipeline by Przedsiębiorstwo Eksploatacji Rurociągów Naftowych Przyjaźń S.A.

The execution of the annex will allow the company to include the oil from the Lubiatów facility in the supplies to TOTSA TOTAL and increase the flexibility of the parties' cooperation. The annex amends the agreement on sale of crude oil, executed by the companies in December 2009.

Domestic crude oil production is handled by the Geology and Hydrocarbon Production Branch of PGNiG S.A. According to estimates, the total domestic production of crude oil and condensate in the first three quarters of 2013 amounted to nearly 600 thousand tonnes. In the same period, PGNiG Upstream International's production from foreign licences amounted to approximately 189 thousand tonnes.

The crude oil and natural gas facility in Lubiatów - the largest recent investment project in the Polish upstream sector - was officially opened on July 29th 2013. The production of crude oil at Lubiatów will allow PGNiG to increase domestic crude oil and condensate production from approximately 500 thousand tonnes to approximately 800 thousand tonnes annually.

Press Team of PGNiG SA