Today, the offshore platform newly purchased by LOTOS Petrobaltic, the sole company conducting hydrocarbon exploration and production work in the Polish zone of the Baltic Sea, has arrived in Poland. The Industrial Development Agency and Nordea Bank Polska S.A. were both involved in the project for the new platform.
Following the drilling of an exploration well in the Trell prospect, the presence of crude oil was confirmed in the PL 102F licence area. LOTOS Exploration & Production Norge holds an interest in this licence, acquired in 2013 as part of the Heimdal portfolio. This marks the first time oil has been discovered in a Polish-held Norwegian licence area.
Lotos Exploration & Production Norge AS has been awarded two new production licenses on the Norwegian Continental Shelf. The offers were issued on the 21st of January after the authorities had evaluated applications from 50 companies in the Awards in Pre-defined Areas (APA) 2013.
LOTOS Exploration & Production Norge, which had entered into an agreement with Centrica Norge on the acquisition of the Heimdal assets on the Norwegian Continental Shelf, has received clearance from the Norwegian authorities to finalise the transaction. All conditions precedent of the agreement have now been met.
LOTOS Exploration & Production Norge (LOTOS), a subsidiary of the Polish energy corporation Grupa LOTOS S.A., has reached an agreement with Centrica Energy Norway, a subsidiary of the UK based Centrica Plc., to acquire shares in 14 licences on the Norwegian Continental Shelf, including one operatorship. The package of oil and gas assets includes producing fields, developments, discoveries and exploration prospects.
Polskie Inwestycje Rozwojowe S.A. has executed its first investment project financing agreement with LOTOS Petrobaltic S.A.
Research vessel “Polar Duke” has commenced 3D seismic surveys of the area covered by the Gaz Południe exploration and appraisal licence held by LOTOS Petrobaltic S.A. The licence area includes natural gas accumulations designated as B21 and B16, as confirmed by exploration wells. The objective of the surveys is to make a detailed appraisal of the prospects to an extent sufficient to plan subsequent wells and assign reserves the fields.
On August 14th 2013, an agreement on joint operations within the Kamień Pomorski licence block was signed between Polskie Górnictwo Naftowe i Gazownictwo SA and LOTOS Petrobaltic S.A. In practical terms, the agreement will strengthen the cooperation between the companies in exploration for and production of conventional oil and gas resources.
On April 9th 2013, CalEnergy acceded as a limited partner to the Baltic Gas Sp. z o.o. i Wspólnicy Spółka Komandytowa, a limited liability partnership created earlier by LOTOS Petrobaltic to implement an investment agreement with CalEnergy of October 30th on cooperation in development of gas fields B4 and B6 in the Baltic Sea. The recoverable reserves at B4 and B6 are estimated at 4 billion m3 of gas.
Spring has greeted us with snow and blizzards. The atmosphere offshore – 80 km distant from the mainland – makes both working and rest conditions far more difficult than usual for this time of year. The weather now is not very different from the wintery conditions here, a fact documented in photos just a few days ago.
On March 12th 2013, Talisman Energy (operator of the Yme field) and SBM Offshore (owner of the MOPU - Mobile Offshore Production Unit) announced that a settlement had been reached to remove the defective platform from the Yme field.
LOTOS Geonafta, a company owned by LOTOS Petrobaltic, has been contracted to supply crude oil to the Gdańsk refinery. The contract has just be concluded for an indefinite period of time. Its value over the next five has been estimated at PLN 822m.