Current Report No. 55/2019
2019.11.07 11:59
Warsaw, November 7th 2019
PGNiG Upstream Norway AS signs agreement to purchase additional 10% interest in Duva field from Pandion Energy
Current Report No. 55/2019
The Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG”, “Company”), in reference to the Current Report No. 35/2019 of July 12th 2019, announces that on November 7th 2019 PGNiG Upstream Norway AS (“PUN”), a subsidiary of the Company, signed an agreement to purchase a 10% interest in the PL636 and PL636B licences (“Licences”), comprising the Duva field from Pandion Energy AS. Therefore, PUN’s interest in the Licences increased from 20% to 30%.
The licence was purchased under the PGNiG Group Strategy for 2017–2022 (with an outlook until 2026), as announced in the Current Report No. 19/2017 of March 13th 2017.
The agreement provides for conditions precedent, including obtaining the required administrative approvals in Norway.
