By drilling the Miłosław 4K well, Polskie Górnictwo Naftowe i Gazownictwo SA has confirmed a new gas discovery near the town of Miłosław, county of Września, province of Poznań.

Liquefied natural gas for the purposes of Świnoujście LNG terminal cool-down and start-up operations will be supplied by the biggest producer of LNG in the world and operator of the greatest methane carrier fleet – Qatargas. Polish Oil and Gas Company acting as an intermediary in gas supply to the terminal under the Contract with Polskie LNG has reached an agreement with Qatari enterprise.

In the first half of 2015, Polskie Górnictwo Naftowe i Gazownictwo SA drilled 27 exploratory, core, appraisal and production wells within its licence areas in the provinces of Poznań and Rzeszów.

Despite declining oil prices, the PGNiG Group earned a net profit of nearly PLN 1.9bn in H1 2015, up 23% year on year. Such strong performance was attributable chiefly to the consistent pursuit of the Efficiency Improvement Programme in all Group companies.

PGNiG Upstream International AS, a subsidiary of PGNiG SA, executed a USD 400m credit facility agreement with eight banks (Societe Generale, BNP Paribas, ING, HSBC, Citibank, CACIB, SEB and Natixis).  The primary use of proceeds from the facility will be early payment of some of PUI’s outstanding debt, including the entire debt contracted to finance acquisition of assets from Total E&P Norge in 2014.

Polskie Górnictwo Naftowe i Gazownictwo SA and Central European Petroleum GmbH (CEP) signed agreements on joint operations in a designated part of the Lubben licence area located in the state of Brandenburg in Germany. As part of the arrangement, the companies will carry out crude oil and natural gas exploration, appraisal and production operations. PGNiG SA’s financial commitment as part of the project is expected to exceed EUR 10m by the half of next year.

Polskie Górnictwo Naftowe i Gazownictwo SA and ORLEN Upstream have signed a Joint Operating Agreement. The companies aim to jointly conduct analytic and research works in eight concession blocks in Podkarpackie Voivodeship.

The President of the Energy Regulatory Office (URE) has approved a new wholesale gas tariff for PGNiG SA. The new tariff provides for reduced gas fuel prices.

On July 16th 2015, Gas Assets Management Sp. z o.o., a subsidiary of PGNiG SA, closed the acquisition of a 36.17% interest in GAS-TRADING SA from PHZ BARTIMPEX SA.

PGNiG Upstream International (PGNiG UI), a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA and a partner in the Gina Krog production licence, has concluded the drilling of an exploratory well on the Norwegian shelf. The results of preliminary geological and reservoir analyses indicate the possible presence of hydrocarbon accumulations with recoverable reserves in the range 6.29m−12.6m boe.