PGNiG Group reports stable growth in H1 2017
In the first six months of 2017, the PGNiG Group recorded about 15% year-on-year rise in the volumes of gas sold to external customers. Net profit increased by 65%, to almost PLN 2.1bn. The Group’s EBITDA came in at just under PLN 4.2bn for the first half of 2017, having increased 33% year on year. The first half year results are not weighed down by major impairments, in contrast to the same period last year, when impairment losses reduced consolidated EBITDA by over PLN 550m.
PGNiG has officially voiced a need for gas transmission capacity in the North-South Gas Corridor in the first phase of the Open Season procedure
Polish Oil & Gas Company has submitted its request in the first phase of the reservation procedure for gas transmission capacity to create a pipeline link between the Norwegian Continental Shelf deposits, Denmark and Poland.
PGNiG starts production of gas and crude oil from Gina Krog field in Norway
Located in the North Sea the Gina Krog field was brought on stream last Friday, at 17:00. PGNiG Upstream Norway is one of the four consortium partners, holding an 8% interest in the licence. The field’s recoverable reserves have been put at 218 million boe, the figure equal to last year’s total output from the Norwegian Continental Shelf.