Lotos finds a partner in the Persian Gulf

"The partner in this venture will be Kuwait state-owned firm, Kuwait Petroleum Corporation. The contract has already been signed by this company and awaits signature by Lotos' management," said an informer from the oil sector. For the time being, neither the value of the contract nor the quantity of oil involved is known. The negotiations with KPC have been confirmed by the Polish embassy in Kuwait. "We supported these activities. According to our information, negotiations are close to being concluded," said Tomasz Sadzinski, economic attaché of the Polish embassy in Kuwait. "Lotos has obtained a permit to drill oil in the Baltic Sea. This will boost annual drilling from 300,000 to 1 million tonnes. Petrobaltic, being a part of the group, will do this. This will require investments," said the informer. (Puls Biznesu, pp.1, 6) M.M.