Polish energy giant discovers large gas deposit

Polish energy giant PGNiG has struck a natural gas deposit in the Norwegian Sea estimated to contain around 8 to 40 billion cubic metres of gas and condensate.

It was discovered in an area where PGNiG's Norwegian subsidiary, PGNiG Upstream Norway, had been conducting hydrocarbon exploration for a number of years, the company said in a press statement released on Thursday.

“I extend my gratitude to our specialists at PGNiG Upstream Norway,” said Paweł Majewski, president of PGNiG’s management board, and added that “this success marks the culmination of their hard work as a team and is owed to their experience”.

He also emphasised that the newly found deposit is significant to the strategic development of the company's own production of natural gas on the Norwegian Continental Shelf.

"We consider the discovery as extremely important for the strategic expansion of our gas production operations on the Norwegian Continental Shelf,” said Majewski. “We seek to ensure that the largest possible volumes of our own gas are brought from Norway to Poland via the Baltic Pipe”, he added.

The company said that the date of commencing production depends on the results of future exploratory work and the strategy of deposit development agreed between its partners.