Lotos to acquire deposit in Norway

Grupa Lotos plans to acquire new hydrocarbons deposit on Norwegian Sea in order to recover some of the capital invested in Yme project, Paweł Olechnowicz, the firm's CEO told ISBnews. Mariusz Machajewski, the firm's Deputy CEO said that the group has already made a list of favored projects to acquire. Lotos decided to abandon Yme scheme in 2013 and cash a 20 percent stake which it purchased five years earlier. Talisman Energy the deposit's operator and SBM, the main contractor of the platform could not reach an agreement regarding launching extraction for years. Eventually, the projects was closed and SBM paid out a $470 million compensation to the shareholders, which will cover deinstallation of the platform. In April, Lotos informed that it may be able to recover some $500 million from Norwegian tax shield.