PGNiG Supply & Trading (PST), a member of the Polish Oil and Gas Company Group (PGNiG), becomes the exclusive recipient of natural gas produced in Norway by LOTOS Exploration & Production Norge (LOTOS Norge), a LOTOS Group company engaged in exploration and production activities on the Norwegian Continental Shelf.
Production from Norway’s Utgard field was launched on September 16th 2019. The project had been completed about three months ahead of schedule with about 25% savings compared to the assumed budget. LOTOS Exploration & Production Norge (LOTOS Norge) is a partner in the licence, operated by Equinor. The field is an important part of the LOTOS strategy in exploration & production.
Drilling operations in licence PL442 in the NOAKA area in the North Sea discovered recoverable oil resources estimated at 80–200 mboe (barrels of oil equivalent). Aker BP operates the licence (90.26%) in partnership with LOTOS Exploration & Production Norge (9.74%).
LOTOS E&P NORGE will participate in the 30th International Conference DRILLING-OIL-GAS AGH 2019 organised by The University of Science and Technology in Krakow, one of the leading technical universities in Poland.
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.
On January 16th 2018, LOTOS Exploration and Production Norge AS (“LOTOS Norge”) was offered two new exploration and production licences by the Norwegian authorities in the APA 2017 round.
A new crude oil field discovered in the Norwegian sector of the North Sea opens up new opportunities for LOTOS Norge’s growth and adds to its production potential.
A breakthrough was made towards redevelopment of the Norwegian Yme field, in which LOTOS Norge holds a 20% interest. The faulty production platform has just been removed from the field, to facilitate further work on its full development.
Statoil, LOTOS Norge and Total Norge, which together hold the Utgard licence (formerly Alfa Sentral), have submitted the Plan for Development and Operation of the licence to the Norwegian and British regulators. Production from the Utgard field is scheduled to start in late 2019.
In the first quarter of 2016, LOTOS produced over 2.5 million barrels (ca. 350 thousand tonnes) of oil equivalent (boe), which translates into a daily production volume of almost 30 thousand boe. To compare, production in the first three months of 2015 amounted to some 1 million boe. Three-fourths of the volumes come from fields in Norway, while the balance was produced in the Baltic Sea and in Lithuania.
In February 2016, total production of crude oil by LOTOS Petrobaltic, LOTOS Norge and LOTOS Geonafta, which operate in Poland, Norway and Lithuania, crossed the mark of one million barrels.
LOTOS Exploration and Production Norge AS has entered into an agreement with ExxonMobil Exploration and Production Norway to acquire a portfolio of assets in the Sleipner gas field located in the North Sea.