PGNiG Norway AS, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG), and its licence partners have made a new gas discovery in the Snadd Outer prospect, within the PL212E licence area. The discovery lies close to the Snadd North gas discovery  and borders the Skarv oil and gas field, which is being prepared for production launch.

Polskie Górnictwo Naftowe i Gazownictwo SA sold 8 billion cubic metres of gas in the first six months of 2012, compared with 7.6 billion cubic metres in the corresponding period of the prior year. The volume of natural gas produced in H1 2012 totalled 2.2 billion cubic metres and remained flat year on year.

The framework agreement executed on July 4th 2012 between five Polish companies, i.e. PGNiG, ENEA, KGHM Polska Miedź, PGE and TAURON Polska Energia, will help accelerate shale gas exploration work. In accordance with the agreement, estimated expenditure on gas exploration, appraisal and production at the first three pad locations (Kochanowo, Częstkowo and Tępcz) will amount to PLN 1.72bn.  First gas produced as part of the joint project may be expected to flow in 2016.

On June 19th 2012, Polskie Górnictwo Naftowe i Gazownictwo SA issued notes for a total amount of PLN 2.5bn under the Note Issuance Programme of May 22nd 2012.

Polskie Górnictwo Naftowe i Gazownictwo SA is planning to carry out the first issue under its new domestic note issuance programme in the amount of PLN 2.5bn. On June 13th 2012, the book building process for the issue was closed.

On June 6th 2012, the Annual General Meeting of PGNiG SA approved the Company's and the Group's financial statements and the Directors' Reports on the Company's and the Group's operations in 2011. The General Meeting also approved the PGNiG Management Board's recommendation to contribute the entire profit for 2011 to statutory reserve funds.

PGNiG Norway, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, was notified by BP, the operator of the Skarv project, of successful connection of all 13 risers to the FPSO vessel, enabling the launch of oil and gas production from the Skarv field.

For the fourth time those interested in matters relating to sustainable development and responsible business in the energy sector met at a conference held on the initiative of Polskie Górnictwo Naftowe i Gazownictwo SA as part of the Responsible Energy series. The key moment of the conference, held on May 31st, was the signing of the Declaration on Sustainable Development in the Energy Sector in Poland by representatives of another three companies: Aurelian Oil & Gas Poland, Strzelecki Energia Sp. z o.o. and Talisman Energy Polska. Thus the group of Signatories of the Declaration came to number 23 members.

Aurelain Oil & Gas Poland, Talisman Energy Polska and Strzelecki Energia Sp. z o.o. are the three new signatories to the Declaration on Sustainable Development in the Energy Sector in Poland, initiated by Polskie Górnictwo Naftowe i Gazownictwo four years ago. The ceremony of signing the document was held during the Responsible Energy Conference organised by PGNiG SA in Warsaw on May 31st 2012. The Conference was held under the honorary patronage of Mr Mikołaj Budzanowski, Minister of State Treasury, and Mr Marek Woszczyk, President of the Energy Regulatory Office.

Over 200 persons representing both Polish and foreign companies attended PGNiG's workshops dedicated to the Gas Release Programme, which took place on May 28th 2012.