GDANSK, Poland—PGNiG, a unit of the Polish gas company, said on Aug. 12 that it and Aker BP have found new oil and natural gas deposits in the Norwegian Sea.
The company estimates the deposit at between 11 and 36 MMBoe, of which 20% is attributable to PGNiG, and said it plans to explore for further deposits nearby.
“Norway is our priority when it comes to exploration and production abroad. Utilizing those deposits is strategic for us, also with regards to strengthening Poland’s energy security,” PGNiG CEO Iwona Waksmundzka-Olejniczak said in a statement.
PGNiG said the new deposit was located in the Newt prospect, 14 km northeast of the well-developed Skarv production field, so utilizing existing infrastructure will allow for lower costs and reducing the time needed to develop the new deposit.
Recommended Reading
CERAWeek: Tecpetrol CEO Touts Argentina Conventional, Unconventional Potential
2024-03-28 - Tecpetrol CEO Ricardo Markous touted Argentina’s conventional and unconventional potential saying the country’s oil production would nearly double by 2030 while LNG exports would likely evolve over three phases.
Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February
2024-03-22 - Argentina's Neuquen province hit a record for daily oil production in February.
Permian Gas Finds Another Way to Asia
2024-04-30 - A crop of Mexican LNG facilities in development will connect U.S. producers to high-demand markets while avoiding the Panama Canal.
Pitts: US, Qatar Face off in LNG ‘Olympics’
2024-05-03 - In the LNG exporting space, the U.S. is squaring off with its fiercest competitor, Qatar, with both countries expected to outpace Australia
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.