Lotos and PGNiG get two new Norwegian licenses each

WSE-listed Lotos and PGNiG each secured stakes in two exploration licenses on the Norwegian continental shelf, the Norwegian Ministry of Petroleum and Energy said. Lotos secured licenses on the North Sea, while PGNiG won stakes in licenses on the Norwegian Sea. They were awarded in the licensing round in which the Norwegian government sold 75 production licenses. Lotos owns 22.2 and 25 percent stakes in its licenses, while PGNiG controls 20 and 30 percent respectively. After the acquisitions, Lotos has stakes in 21 licenses on the Norwegian continental shelf and PGNiG has shares in 19.