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Lotos finds crude oil in its Norwegian license

25th February 2014
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Crude oil was discovered in the PL 102F license area on the North Sea, in which Polish refinery giant Lotos has 10 percent stake in. This is the first deposit of oil found in this license.

The vertical exploratory well is 2,240 meters deep and was drilled in the seabed 122 meters below sea level by the Leiv Eriksson platform.

According to the license operator's initial estimates, the recoverable reserves are between 0.5 billion m3 and 2 billion m3. LOTOS Norge holds a 10% interest in the license, which translates into 50,000 m3 to 200,000 m3 of recoverable reserves attributable to the company. The remaining holders are Total E&P Norge AS (40% - license operator), Petoro AS (30%), Det norske Oljeselskap ASA (10%), and Ithaca Petroleum Norge AS (10%).


Poland A.M.

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