LOTOS Exploration and Production Norge AS (LOTOS E&P Norge) is a company in the LOTOS Group, with headquarter in Gdansk, Republic of Poland. The LOTOS Group is 53,19% owned by the Polish state and the remaining 46,81% is listed on the Warsaw stock exchange.The ambition of the LOTOS Group is to develop a strong upstream segment supplementing the strong Refining and Marketing position the Group is holding in Poland.

Establishing of LOTOS E&P Norge in 2007 is a core element of the LOTOS Group upstream strategy and to diversify oil supply to the refinery operations. The Gdansk refinery is currently being upgraded to 10.5 mill ton a year of production capacity.
LOTOS E&P Norge was prequalified as operator in 2008 and has been active in the asset market and the licensing rounds.   At present we have 3 operated licenses in the exploration phase in our portfolio; PL 498 and PL 503, PL556 with a high activity level in all licenses. We will  apply for new operator responsibilities and licenses in the APA 2010.

In addition we have participating interests in  3 partner operated licenses in the exploration phase - both in the North Sea and the Norwegian Sea; PL 497, PL 455, PL 515. The PL 455,licenses is located next to the Yme Field/PL 316, the core asset in LOTOS E&P Norge portfolio and the exploration licenses are potential satellites to Yme.Yme expects production start up of 8500bbl/d in Q 4 2010).

Through the ownership in the company LOTOS Petrobaltic SA, the LOTOS Group is the single operator and producer of oil and gas from the Polish sector of the Baltic Sea.

LOTOS Petrobaltic will be the core in the upstream segment and LOTOS E&P Norge is a 100% daughter company of LOTOS Petrobaltic.