Polish gas firm PGNiG finds large deposit on Norwegian Shelf

Jakub Kamiński/PAP

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

The deposit was found in 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 Pawel Majewski, president of PGNiG’s management board. “This success marks the culmination of their hard work as a team and is owed to their experience gained on the shelf.”

He added that the new deposit has significance for 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.”

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.