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Refiner Lotos Group and Poland's gas monopoly PGNiG have reached a strategic agreement whereby the former company will be able to buy into seven of PGNiG's oil and gas exploration licenses in Poland, Parkiet reported.

The alliance concerns five unconventional gas deposits and two conventional ones, as well as trade cooperation. Further details have not yet been published, but may be made known in October.

The two companies will cooperate on licenses in four voivodships: Pomorskie, Zachodniopomorskie, Warmińsko-Mazurskie and Lubelskie. The agreement provides for the possibility of Lotos acquiring stakes in the concessions. PGNiG has, however, secured its role as an operator in each of them.

Additionally PGNiG recently signed a cooperation agreement with KGHM, Tauron, PGE and Enea regarding the prospecting and production of shale gas.

The company owns a total of 225 permits for the extraction of oil and gas from conventional deposits.

The PGNiG-Lotos cooperation may be extended beyond the initial seven concessions. They may also work together in Norway.

Poland A.M.