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Wednesday, November 3, 2021

PGNiG has discovered light oil in Norwegian Sea

 The exploration work carried out by PGNiG Upstream Norway and its concession partners on the Egyptian Vulture prospectus in the Norwegian Sea has been successfully completed. The discovered field may contain up to 63 million barrels of crude oil.

PGNiG Upstream Norway and its license partners have discovered a hydrocarbon reservoir in the PL939 license in the southern part of the Norwegian Sea. The collected samples indicate the presence of light crude oil, the recoverable resources of which - according to estimates published by the Norwegian Oil Administration - range from 19 to 63 million barrels.

PGNiG Upstream Norway owns 30 percent interest in the concession. Its operator is Equinor Energy (55% of shares). The remaining 15 percent shares are owned by Longboat Energy.

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