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ORLEN secures 12 new Norwegian Continental Shelf licenses

Polish energy company ORLEN announced on Wednesday (17 January) that its subsidiary PGNiG Upstream Norway (PUN) has obtained 10 new license areas for exploration on the Norwegian Continental Shelf as part of Norway’s annual licensing round.

PUN will act as the operator of one of the ten awarded licenses, ORLEN confirmed in a press release. Additionally, PUN inherited two additional new license areas in the Sleipner field through the acquisition of KUFPEC Norway. In total, ORLEN will now hold shares in 104 licenses on the Norwegian Continental Shelf.

ORLEN to increase gas output in Norway following key acquisition

“The latest licensing round on the Norwegian Continental Shelf confirms the ORLEN Group’s strong position on the Norwegian market, ” said Daniel Obajtek, President of the ORLEN Management Board. “This is the largest number of licenses that PGNiG Upstream Norway has ever received in APA procedure. The development of our portfolio of Norwegian assets is crucial for the achievement of ORLEN’s business goals, but also for ensuring energy security of our customers.”

As part of the annual licensing round, the Norwegian government granted shares in 62 production licenses to 24 companies. PUN succeeded in receiving shares in all the applied licenses (10).

Four of the newly awarded licenses are located in the Norwegian Sea and will act as the operator for one of them. Six of the newly awarded licenses are located in the Norwegian North Sea. Five are located close to development projects in which PUN holds shares.

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