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PGNiG cuts production forecast

24th October 2012
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Polish Oil and Gas Company (PGNiG) has decreased its forecast for its overseas natural gas production for 2013, reported Rzeczpospolita. The company is now lowering its expectations by some 0.1 million cubic meters to 0.4 billion cubic meters.

“Over the period of the start-up phase, mining production in Norway will increase gradually until it reaches a stable and predictable level of production. And so the forecast for 2013 has been reduced compared to previous estimates,” the company said in a statement.

PGNiG also said on Tuesday that because of the small volumes of oil and gas exploited in the first stage of the start-up phase in Norway, it would not be publishing forecasts for its production of those resources from foreign sources for the year 2012.

Poland A.M.
 


From Warsaw Business Journal


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