The contract covers supplies from 2015 to 2019, but may be extended for an indefinite period. The estimated value of the contract as at its date is approximately PLN 3.2bn.

The crude oil, to be supplied to the Gdańsk refinery of Grupa LOTOS S.A. from January 1st 2015, will be collected by the buyer at PGNiG's railway terminals located at the PGNiG Zielona Góra Branch. Rail transport will be handled by LOTOS Kolej.

"The contract with Grupa LOTOS is yet another contract for the supply of domestically-produced crude oil executed by PGNiG in the last few months.  It adds to the group of clients interested in the crude oil from Polish fields and proves that implementing our current strategy, whose aims include efficient management of domestic crude oil and natural gas reserves, has been the right decision," says Jerzy Kurella, acting President of the PGNiG Management Board.

"Having completed the 10+ Programme, LOTOS now has one of the most advanced refineries in the world. Our units process various types of crude, which ensures higher efficiency, production optimisation and top quality of fuels," says Paweł Olechnowicz, President of the Management Board of Grupa LOTOS S.A. "Crude oil supplied by PGNiG  did well in technological tests carried out to date - we intend to use it for commercial processing in Gdańsk starting in 2015."

LOTOS and PGNiG also cooperate on development of onshore  deposits in Poland. In 2014, the companies plan to drill their first joined exploration well, which will allow them to verify the production potential of one of the licences.

PGNiG SA Press Team

Communication Office, Grupa LOTOS S.A.