Polish Briefing: PGNiG is not scared of sanctions against Iran. The Carpathians are still in the sights

What goes on in Poland on the 24th of May.

PGNiG is not scared of sanctions against Iran

During the press conference of PGNiG, the president of the company commented on the consequences of the US decision to withdraw from a nuclear agreement with Iran.

President Piotr Woźniak said that the company did not suffer any losses as a result of the US decision. Previous expenses related to the investment in the Soumar field have been “preparatory, operational, not investment”. – We will adapt to the decision that the European sector will take. Due to the level of commitment of funds, we will not be affected by this decision – he said.

Vice-President Woźniak expressed satisfaction with the tariff reduction for CNG/LNG to zero, which he believes is an opportunity for another life of this market. He added that this along with the Alternative Fuels Act gives a chance for the second youth of this market. We expect contracts for the supply of this fuel with cities and conclusion of contracts – he said. He did not rule out that such an agreement would also be concluded with Warsaw.

The Carpathians are still in the sights of PGNiG

At the PGNiG press conference, Piotr Woźniak announced that the company expects much from the new discovery in the Carpathians.

– I would not expect major discoveries of the gas and oil field in Poland, except for one area. Therefore, the company conducts foreign expansion in Pakistan or in Norway. The area of ​​the Carpathian Foothills is interesting, and the preliminary tests using the 3D seismic image have identified the reservoir trap. We will have more detailed data in July or August. We are also working on the so-called exhausted deposits, where you can still extract the raw material – said the president.

– In the Przemyśl field, where the works are underway, at the turn of the 60/70 years, 3,7 billion cubic meters of gas per year were mined. We are now conducting revitalization of the deposit using new technologies. This will increase the recoverable resources to 20 billion cubic meters. We use the so-called perforated tubes technique. This will increase the extraction capacity from a few to a dozen or so times. In 2019, this will allow us to increase production on the Przemyśl deposit. We are on the growth path, but we have nothing to boast about yet. At present, we extract 3,7 billion cubic meters annually. – said Woźniak. The strategy of PGNiG shows that thanks to the described works, the increase in production will amount to 7 percent.