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The Warsaw Voice » Business » February 23, 2012
Business & Economy
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More Gas and Oil from PGNiG
February 23, 2012   
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Polish natural gas and oil monopoly PGNiG has revised upward its forecasts for oil and gas extraction in 2013.

The corporation says it will extract a total of 4.9 billion cubic meters of natural gas, or 200 million cubic meters more than it originally planned.

PGNiG revised the forecast after it invested funds in natural gas deposits abroad. “Our output in Norway will reach 200 million cubic meters this year and we are also planning to extract around 100 million cubic meters from deposits in southern Pakistan,” said Joanna Zakrzewska, a spokeswoman for PGNiG.

The corporation also expects to double its oil extraction to 1.24 million metric tons next year. “We can do so in part thanks to a new project at the Lubiatów-Międzychód-Grotów mine,” Zakrzewska said. The oil deposits available as part of this project are estimated at around 7.25 million metric tons. Annual output is expected to reach 400,000 metric tons, or 2 percent of Poland’s demand for oil.

PGNiG also plans to start drilling for oil in the North Sea this year, aiming to extract a total of 490,000 metric tons next year.

In the meantime, PGNiG is searching for new oil and gas deposits, and by the end of 2015, it wants to spend over zl.15 billion on the project.
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