State Treasury delays decision to create Oil Mining exploration partners

The State Treasury (MSP) has not yet made a decision whether to create the first independent exploring partnership of Polish Oil and Gas (PGNiG) called Oil Mining (GN), or wait for the other four partnerships that will be excluded. MSP has delayed the decision it had announced would be made this week. PGNiG director Andrzej Schoeneich is concerned that if his company does not divide itself into five partnerships by the end of the year, then the whole restructuring process would be delayed an additional six months. According to him GN should be excluded first, as it is the only profitable part of the company. The whole group will probably incur losses three times higher than the zl. 160 million recorded last year. The 23 existing gas plants should be divided equally between all five partnerships according to location and technology. "Despite the similar size of all the partnerships, they will have different development potential," observed an anonymous sector analyst. MSP may delay its decision due to disagreements about the location of the new partnerships. (Puls Biznesu, pp.1,10)