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The Polish Oil and Gas Company´s
affiliate, PGNiG Norway AS
with its registered office in Stavanger,
was established as a stand-
alone business entity in 2007. It is a special
purpose vehicle
established to carry out Polish Oil and Gas Company
(PGNiG)
business on the Norwegian Continental Shelf, and in
particular to
perform the contract concluded by PGNiG with Mobil
Development
Norway AS and ExxonMobil Production Norway Inc. for
the acquisition
of interests in licence areas covering hydrocarbon
reserves on the
Norwegian Continental Shelf, more precisely the
Skarv, Snadd and
Idun fields.
The sole owner of PGNiG Norway is PGNiG
of Warsaw. The business
profile of PGNiG Norway includes
production of crude oil and natural
gas as well as other activities incidental
to oil and gas production.
PGNiG Norway may also engage in
infrastructure projects, such as
construction and operation of gas
pipelines.
PGNiG is the leading business in natural
gas segments in Poland,
both in trade, distribution, oil and gas
exploration ond production,
as well as gas storage and processing.
In order to meet the corporate strategic
goals, PGNiG Norway intends
to implement an intensive investment
programme from 2007 to 2012.
The main purpose of this programme is to
increase oil and gas
production from the resources on the Norwegian
Continental Shelf.
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