LOTOS

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Upstream activity 2018-08-27
LOTOS at Offshore Northern Seas again

Offshore Northern Seas (ONS), one of the largest and most prestigious showcase events for the offshore oil and gas industry in the world, takes place in Stavanger, called the Norwegian capital of the oil industry, from August 27th to August 30th 2018. LOTOS stand presents the Group’s activities in oil and gas exploration and production. ONS is a biennial event, held in Stavanger since 1974.

“LOTOS has been present on the Norwegian Continental Shelf for 11 years now. We are at the ONS again because exploration for and production of crude oil and natural gas in the seas around Norway is a key element of our Group’s growth strategy until 2022,” says Piotr Statkiewicz, CEO of LOTOS Exploration & Production Norge AS.

The LOTOS Group plans to spend PLN 3.0bn on capex projects in the upstream segment in 2017–2022. Additionally, later on during the implementation of the strategy, further decisions will be made to allocate a portion of PLN 3.3bn to other projects related to the development of the hydrocarbon production segment.

LOTOS holds interests in 28 licences in Norway. 2P recoverable reserves of crude oil and natural gas under its Norwegian licences are estimated at 36 million boe (barrels of oil equivalent), accounting for more than one-third of the LOTOS Group’s total hydrocarbon reserves. At present, natural gas and crude oil are produced from the Heimdal area (Atla, Vale, Skirne, and Heimdal fields) as well as from the Sleipner area (Sleipner Ost, Sleipner Vest, Loke, and Gungne fields).

LOTOS’ operations in Norway do not involve hydrocarbon production only. For many years products manufactured at the Grupa LOTOS refinery in Gdańsk, such as bitumens, engine oils or aviation fuel, have been sold to customers in Scandinavia.

LOTOS stand presents the Group’s activities in oil and gas exploration and production. ONS is a biennial event, held in Stavanger since 1974. For detailed information on ONS 2018 and the accompanying events, go to: http://ons.no/.

LOTOS is a Polish corporation whose business is of strategic importance to the national and European energy security, as well as to Poland’s economy. It produces natural gas and crude oil in Poland, Norway and Lithuania. The Company owns a refinery in Gdańsk, one of Europe’s most advanced oil refining plants, where crude is processed mainly into high quality fuels, including the LOTOS Dynamic premium brand.

LOTOS also operates a chain of close to 500 service stations conveniently located at motorways and expressways, in all large cities and many other locations across the country. As a retailer and wholesaler of fuels, it has nearly a one-third market share at home. It is also Poland's second-largest rail freight forwarder. LOTOS is a leading manufacturer of road bitumens, engine oils and lubricants used in road vehicles, aeroplanes, trains, ships, and even military vehicles.

External Communication Office, Grupa LOTOS S.A., ul. Elbląska 135, 80-718 Gdańsk, Poland, tel. (+48) 58 308 83 88, (+48) 58 308 72 29, email: media@grupalotos.pl

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