PGNiG and Lotos team up to hunt for oil and gas
According to the Treasury Ministry, Polish Oil and Gas (PGNiG) and Grupa Lotos, in which the state holds 84.7 percent and 58.8 percent stakes respectively, should cooperate in searching and drilling oil and gas in Norway and other countries. According to daily Parkiet sources, both companies are negotiating terms of cooperation and could present relevant details on joint undertakings soon. They are likely to jointly purchase licenses on the Norwegian shelf.
Analysts positively assess the potential cooperation of both firms. PGNiG is experienced in inland searching and drilling as well as large financial capacity. In turn, Grupa Lotos has been drilling oil and gas from underneath the Baltic for many years.
Cooperation would enable them to share risks related to exploratory activities and together they stand greater chances of acquiring new licenses.
Source: Parkiet
Analysts positively assess the potential cooperation of both firms. PGNiG is experienced in inland searching and drilling as well as large financial capacity. In turn, Grupa Lotos has been drilling oil and gas from underneath the Baltic for many years.
Cooperation would enable them to share risks related to exploratory activities and together they stand greater chances of acquiring new licenses.
Source: Parkiet
