PGNiG launches production at Gina Krog deposit

WSE-listed gas giant PGNiG launched gas and oil extraction at Norwegian Gina Krog deposit, in which it has an 8 percent stake. The deposits are located 30 km from Norway shoreline and are located in a cluster of five gas and oil deposits in which PGNiG has shares. Recoverable reserves from Gina Krog are estimated at 218 million boe. “High productivity of this license will have a significant impact on our production volume on the Norwegian continental shelf in 2017,” PGNiG CEO Piotr Woźniak said. PGNiG acquired the stake in Gina Krog in 2014. Other stakeholders in the deposits include Statoil Petroleum (58,7 percent), Total E&P Norge AS (15 percent), KUFPEC Norway (15 percent), and Aker BP (3.3 percent).