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ORLEN signs new oil supply contracts from Norwegian deposits

Polish ORLEN Group has signed an agreement with British bp for the delivery of up to six million tons of crude oil from Norwegian reserves in the North Sea over a one-year period to ORLEN’s refineries (27 June).

The first oil tanker is scheduled to arrive at the oil terminal in Gdańsk in the upcoming quarter. Some deliveries are also planned to be transported via the Būtingė oil terminal in Lithuania. The planned delivery of six million tons of crude oil is equivalent to over 15 per cent of ORLEN Group’s combined oil needs, the company said.

“The development of the Ørn, Alve Nord, Fenris fields and the Yggdrasil area will provide ORLEN Group with nine billion cubic meters of natural gas over the entire production period. These are key investments that will ensure that we maintain stable, high natural gas production over the coming years,” said Daniel Obajtek, President of the Management Board of ORLEN. “We want the largest possible share of gas sent from Norway to Poland via the Baltic Pipe pipeline to be our equity gas. This will not only guarantee the efficient implementation of the Group’s business goals but also strengthen the energy security of the country and the entire region.”

At present, 100 per cent of Poland’s crude oil is obtained from non-Russian origins, including the North Sea, West Africa, the Mediterranean region, and the Arabian and Mexican Gulf.

In the North Sea, the company imports oil from deposits in the Forties, Oseberg, Johan Sverdrup, Troll, Grane, Brent, and Ekofisk. In addition, Forcados and Bonny Light oil are imported from West Africa. ORLEN’s supply basket also includes WTI, Bakken and Mars grades produced in the United States.

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