Following the grant of the approval, working interests in the licence are held by: Norske Shell (50%), Statoil Petroleum AS (30%), Gaz de France SUEZ E&P Norge AS (10%) and PGNiG Norway (10%).

The licence, which covers an area where the Gro gas discovery was made, comprises four blocks with the total area of 1,671 square kilometres. In 2009, the presence of gas accumulations in the field was confirmed by drilling. The Gro gas field is located within the Voring basin, in the western part of the Norwegian Sea, where the sea depth exceeds 1,000 m. The licence area lies approximately 350 kilometres off the coast (the approximate distance from the town of Sandnessjoen).

The Voring basin, made available for exploration in 1996, is currently regarded as one of the most prospective areas on the Norwegian Continental Shelf. The discoveries made over the recent years are now being documented and developed. The field's recoverable resources of natural gas are considered significant. An appraisal well is currently being drilled, using the Aker Barents drilling rig, to evaluate the resources in the area covered by the PL 326 licence. In H2 2010, a 3D seismic survey is to be conducted, to complement the 3D seismic data acquired in 2004 and 2009.

With the acquisition of the working interest in the PL 326 licence, PGNiG Norway may now undertake exploration work over one of the most prospective areas of the Norwegian Continental Shelf, believed to contain significant hydrocarbon resources. The acquisition will also help the company strengthen its cooperation with leading oil companies, having extensive experience in hydrocarbon exploration and production projects around the world, including in deep sea zones.

PGNiG Norway holds eight licences on the Norwegian Continental Shelf. Exploration projects are under way on five of them. The company intends to apply for further licences awarded in the APA 2010 annual licensing round, provided the licensed acreage offers attractive exploration opportunities. In 2010, PGNiG Norway plans to acquire three more licences in Norway.

In 2007, PGNiG Norway acquired interests in three production licences covering the Snad, Skarv and Idun fields. The Skarv field is scheduled to come onstream in the second half of 2011, and the annual production volumes are expected to reach 0.5 billion cubic metres of natural gas and 0.4 million tonnes of crude oil. In 2011, production is expected to be around half of those volumes.

This year, PGNiG Norway, together with its partners, has found new gas discoveries on the Norwegian Continental Shelf. The Snad North field is estimated to contain between 9 and 16 billion cubic metres of natural gas. Its development is due to start already in 2011.

PGNiG Norway's investment expenditure in 2010 is expected to reach some PLN 500m.

Press Office PGNiG SA