PGNiG with another concession on Barents sea

Listed natural gas group PGNiG has been awarded a 25 percent stake in an exploration concession on the Norwegian continental shelf on the Barents Sea, the Polish Press Agency said. Upstream firm Capricorn Norge AS will hold the remaining 75 percent stake in the PL 856 concession and will be its operator. Both firms have two years to reprocess seismic data and conduct geological and geo-physical analyses to assess the potential of the awarded deposit. Following that period a decision will be made to conduct drillings or drop the permit. PGNiG currently holds stakes in 19 E&E permits on the Norwegian Continental Shelf.