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PGNiG Acquires Interest in another Gas Field in The North Sea

Gasoil News - Published on Tue, 23 Jul 2019

Image Source: PGNIG
PGNiG Upstream Norway has acquired 20 percent shares in the Duva field PL 636 and PL636B licenses from Wellesley Petroleum AS. First production is expected at the turn of 2020 and 2021. Mr Piotr Wozniak, President of the PGNiG Management Board, said that “We are focused on the implementation of the strategy related to the increase in production in Norway, which is why we consistently build our portfolio of shares in licenses on the Norwegian Continental Shelf. Duva field has been one of the most promising development projects on the NCS in recent years. It is characterized by the exceptional good quality of reservoir rock. Estimated reserves and the proximity to existing infrastructure reduce development and production costs. We estimate that the average natural gas production from the Duva field by PGNiG during the first five years of operation of the Baltic Pipe gas pipeline between 2023 and 2028 will amount to 0.13 billion cubic meters annually.”

The Duva field is an oil and gas development project discovered in 2016. It is located within the PL636 and PL636B license area in the North Sea, approx. 140 km north of the city of Bergen. According to data from the Norwegian Oil Directorate, the deposit's resources are 88 million barrels of oil equivalent (including approximately 8.4 billion cubic meters of natural gas).

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Posted By : Ratan Singh on Tue, 23 Jul 2019
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