Polish Orlen is acquiring KUFPEC to get another billion cubic metres of natural gas production on Norwegian Continental Shelf.
– With the acquisition of KUFPEC Norway, PGNiG Upstream Norway (PUN) of the Orlen Group has gained control of stakes in five producing fields: Gina Krog, Sleipner Vest, Sleipner Ost, Gungne and Utgard. As PUN had been an interest-holder in all those assets, it was able to unlock additional synergies, both operational and financial.
Orlen states that in terms of the gas production volume, the acquisition of KUFPEC Norway has propelled the Orlen Group’s Norwegian output by 1 bcm, to 4 bcm annually, marking a significant stride towards its ambitious goal of exceeding 6 bcm per year on the Norwegian Continental Shelf by 2030.
– The extracted gas is dispatched to Poland via the Baltic Pipe, where the ORLEN Group has reserved capacity in excess of 8 bcm per year. By diverting the additional gas volumes secured through the acquisition of KUFPEC Norway to the Baltic Pipe, PGNiG Upstream Norway’s output may contribute, on an annualised basis, about a half of the entire volume of gas imported by ORLEN from Norway utilising the Baltic Pipe’s maximum reserved capacity – we read in a press release.
Orlen / Wojciech Jakóbik