Exploration and production (upstream business)
Development plans
Going forward, the objective for the upstream business is to develop international operations and hold a portfolio of assets with diversified risk profiles, comprising fields at various stages of development.
The exploration and production activities of the LOTOS Group will focus both on onshore and offshore areas of the Baltic Sea, the Norwegian Continental Shelf and Lithuania.
Areas covered by the LOTOS Group’s operations
Development directions of the exploration and production segment:
Poland – Baltic Sea:
- stabilising the production rate from the B3 field,
- continued development of the B8 field,
- involvement in exploration for oil and gas in onshore Poland, including exploration for unconventional deposits,
- continuation of efforts aimed to secure partners for selected licences to speed up exploration and development under gas licences.
Norway – Norwegian Continental Shelf:
- completion of development and launch of production from the Yme field,
- development of the portfolio of exploration licences.
Lithuania:
- finalisation of the acquisition of control over AB Geonafta,
- business integration of the acquired company.
Remaining areas:
- monitoring projects with a low or moderate risk profile carried out in North Africa, the Caspian Sea basin and Central and Eastern Europe.
Exploration areas
The exploration work on the Baltic Sea and Norwegian Continental Shelf is aimed to make new oil and gas discoveries, which will replace the existing developed and producing fields.
| Category (*) | Baltic Sea and Norwegian Continental Shelf – total | |
|---|---|---|
|
oil million tonnes |
gas billion m3 |
|
| Proved reserves 2P | 6.238 | 0.521 |
| Contingent resources 2C | 1.349 | 6.464 |
(*) The table does not include prospective resources, potentially discoverable within the exploration licences.
1. GAZ POŁUDNIE (34/2001/p)
2. GAZ PÓŁNOC (35/2001/p)
3. GOTLANDIA (36/2001/p)
4. ŁEBA (37/2001/p)
5. ROZEWIE (38/2001/p)
6. SAMBIA E (39/2001/p)
7. SAMBIA W (40/2001/p)
8. WOLIN (41/2001/p)
Four production licences on the Baltic Sea:
B3 field – recoverable reserves: 5.3 million tonnes; remaining to be recovered: 1.2m tonnes of oil, production licence valid until 2016;
B8 field - recoverable reserves: 3.7 million tonnes, remaining to be recovered: 3.5m tonnes of oil, production licence valid until 2031;
B6 field - recoverable reserves: 1.8 billion cubic metres (not on production), production licence valid until 2032, covers production of natural gas (gas condensate);
B4 field - recoverable reserves: 2.0 billion cubic metres (not on production), production licence valid until 2032, covers production of natural gas.
Nine exploration licences on the Norwegian Continental Shelf
One production licence on the Norwegian Continental Shelf:
YME field - LOTOS E&P Norge holds a 20% working interest. Recoverable reserves corresponding to the working interest: 1.73 million tonnes (not on production), production licence valid until June 18th 2030.
