Lotos and PGNiG to cooperate on Norwegian shelf
May 13, 2014
Polish refiner Lotos and gas giant PGNiG signed a letter of intent on cooperation on Norwegian continental shelf, Lotos said in a press statement.
The two companies will jointly analyze and conduct potential acquisitions, they will also jointly bid for licenses, the press statement reads.
Last year, Lotos Norge purchased 14 concession on the Norwegian continental shelf, with further acquisitions expected in the next two years. PGNiG subsidiary Upstream International also holds 14 concessions on the Norwegian continental shelf, operating two of them.