The LOTOS Petrobaltic S.A. company implements the strategic objectives of the LOTOS Capital Group in the area of exploration and production of hydrocarbons, namely to increase production in accordance with the priorities of the Polish energy policy and build a strong international exploration and production sector.
By increasing oil production from its own resources, LOTOS pursues the program of diversifying oil supply, thus strengthening Poland’s energy security.
The strategy of the LOTOS Capital Group is to achieve the annual production potential of 1.2 million tonnes of oil by 2015.
LOTOS Petrobaltic operates in the Polish economic zone of the Baltic Sea, and through its subsidiaries, conducts exploration and prospecting of hydrocarbons deposits and extraction of crude oil and natural gas in Norway and Lithuania.
LOTOS Petrobaltic licenses for exploration and prospecting of mineral deposits cover 3 areas with a total surface of 3177 sq km. They are in the eastern part of Poland’s marine basin.
The LOTOS Petrobaltic company, its subsidiaries and jointly controlled entities also hold four licenses for the extraction of minerals from the B3, B4, B6 and B8 field. Currently the B3 and B8 oilfields are operated and the B4 and B6 gas fields are being prepared for development.
In 2013, LOTOS Petrobaltic signed a cooperation agreement with PGNiG on exploring the Górowo Iławeckie licence area in the north-eastern part of Poland, as well as a contract on joint operation in the Kamień Pomorski licence area in the north-western part of Poland. Both companies adopted a joint exploration program in these areas.
In September 2016, LOTOS Petrobaltic acquired the first land licence for exploration and recognition of crude oil and natural gas in the area Młynary (province. Warmia-Mazury) of approx. 400 sq km.
LOTOS Exploration & Production Norge AS, part of the LOTOS Petrobaltic Group provides LOTOS with access to oil and gas from deposits under the Norwegian shelf of the North Sea and the Norwegian Sea. LOTOS Norge has interests in 21 licenses on the Norwegian Continental Shelf, and acts as an operator of one of them.
The AB LOTOS Geonafta operates in the Lithuanian oil sector. The Lotos Geonafta Group and its jointly-controlled company Minijos Nafta are the only actors involved in producing crude oil in Lithuania, where they operate 14 fields on land.
The LOTOS Petrobaltic capital group also includes:
- companies from the Miliana Group, specializing in maritime logistics,
- Energobaltic Sp. z o.o. deals with waste gas management accompanying the the crude oil extracted from beneath the bottom of the Baltic Sea,
- special purpose companies established to carry out specific investments (B8 field development, development of B4 and B6 fields).