In view of the announcement by Chevron Polska Energy Resources Sp. z o.o. concerning its withdrawal from potential upstream projects in Poland, Polskie Górnictwo Naftowe i Gazownictwo S.A. (PGNiG) reports that the Majdan Sopocki well and seismic surveys provided for in the agreement executed between the companies in March 2014 have been completed.

Thus the scope of work provided for in the agreement has been achieved. At present, PGNiG is analysing the results of work carried out in the shale gas Tomaszów Lubelski licence area. Upon completion of the analyses, PGNiG will decide whether to continue activity in the area, including in particular whether to drill a horizontal well and carry out a fracturing treatment.

About PGNIG

The PGNiG Group is the leader of the Polish natural gas market, as well as the only vertically integrated gas company in Poland. Its parent undertaking is Polskie Górnictwo Naftowe i Gazownictwo. Formation of the Group's enabled coordination of the upstream and downstream operations - from exploration and production to storage to trade and distribution of gaseous fuels. The roots of the companies forming PGNiG date back to 19th century - to the beginnings of Polish and world oil industry. The company has been operating under the name PGNiG since 1982. In 1996, the state-owned company PGNiG was transformed into a joint stock company.

About Chevron

Chevron (NYSE: CVX) is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif.