Petrolinvest could soon become more valuable than Lotos

"This year we will spend around USD200 (zł.562) million on our investment program. If we find oil,  the investments may increase to USD 400-500 (zł.1,124-1,405) million next year," said Petrolinvest president Paweł Gryciuk. The company also plans to expand its investment portfolio. In August Petrolinvest was to buy shares in a group of Russian companies, which have a license for oil extraction, but the transaction has not been finalized yet. "The talks are prolonged because we want to eliminate the risk related to the structure of the transaction and the size of confirmed oil deposits," said Gryciuk. The company is also continuing its efforts to take over a 35% stake in the Kazakh oil company Aktau-Tranzit. "Within a month or two we should obtain the required permits and finalize the take over," stated Gryciuk.