17:43 15 June 2021
Post by: WBJ

PGNiG: Smart Field project will increase domestic recoverable reserves by 7.3 bcm

PGNiG: Smart Field project will increase domestic recoverable reserves by 7.3 bcm

Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) has started implementing the Smart Field project and estimates that it will increase the domestic recoverable gas reserves in the group’s concessions by 7.3 bcm, vice-president Robert Perkowski said.

“We have managed to document almost 4 bcm more recoverable gas resources in recent years, while the Smart Field project is new heights - in 2021-2022 the additional recoverable resources from our concessions will be over 7 bcm,” - Perkowski said during the press conference.

He stressed that thanks to better exploration of the deposits, it will be possible to extract more efficiently, as well as to operate the deposits longer.

“Extending the operation of mines by an average of 10 years means maintaining several hundred jobs,” - added the vice president.

Smart Field assumes using cloud computing and technologies such as artificial intelligence and machine learning to model hydrocarbon deposits. PGNiG has signed an agreement with the National Cloud Operator to implement the project.

From 2019. PGNiG implemented an Integrated Reservoir Management System (the so-called “Digital Reservoir”) aimed at optimizing production operations at all stages - exploration, appraisal, and development and production.

PGNiG has been listed on the Warsaw Stock Exchange since 2005. The Group’s business involves domestic production of natural gas and crude oil, import of natural gas to Poland, gas storage in underground gas storage facilities, distribution of gas fuels, development of natural gas and crude oil fields in Poland and abroad, as well as provision of geological, geophysical and exploratory services in Poland and abroad. Consolidated revenue was PLN 39.2 billion in 2020.



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