PGNiG to focus on its Norwegian assets

State-controlled gas giant Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) will focus its exploration activity on its assets in Norway, company's PR manager Robert Papliński said in Rzeczpospolita daily. In the first quarter of this year, the company will begin extraction on its Gina Krog deposits which encompasses some 17.5 million BOE (barrel of oil equivalent) and PGNiG has 8 percent stake in. After that, the gas giant wants to start extracting resources from the Snadd deposits that hold some 237.5 million BOE and PGNiG has 11 percent stake in it. The extraction should start in 2020. PGNiG plans to extract some 2.5-3 billion cubic meters of gas from its Norwegian deposits per year by 2023, compared to 0.5 billion cubic meters it extracts currently.