PGNiG optimistic about Skarv project - CFO
January 3, 2013
PGNiG natural gas giant expects to post "very decent" operating results from its crude oil and gas project Skarv on the Norwegian Continental Shelf, CFO Slawomir Hinc told broadcaster TVN CNBC.
The total tax burden on hydrocarbons production in Norway is 78% (a 28% CIT and a 50% crude oil tax), Hinc also said.
PGNiG launched crude oil and gas production from its Skarv field on the Norwegian Continental Shelf on December 31, and expects some USD 400-500 million in annual revenues from the Skarv deposit in the coming three years, PGNiG said in a press statement earlier on Wednesday.
PGNiG has discovered new structures in the vicinity of the Skarv deposit, which could be connected to the production facility already launched, Hinc also told TVN CNCB.