PGNiG Upstream International, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, has been awarded a 50% interest in the PL756 operator licence in the Norwegian Sea.
PGNiG UI's licence partners are Idemitsu Petroleum Norge AS and Rocksource Exploration Norway AS, with a 25% interest each.

The PL756 licence is located in a well appraised area, close to a number of producing fields, including the large Aasgard field. Crude oil-rich geological traps are highly likely to be found in the area.

The licence partners have been given two years to carry out relevant geological and geophysical surveys, to assess the licence's potential. After that period a drill-or-drop decision will be made.

The PL756 licence is the second operator licence granted to PGNiG UI on the Norwegian Continental Shelf, where in the coming years the company intends to commence exploratory drilling, as an operator.

At present, PGNiG UI holds interests in 14 exploration and production licences in Norway, and operates two of them, PL648S and PL756.

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.