PGNiG Upstream Norway AS signed a Sales and Purchase Agreement to acquire 50% stake in EXL003 Polaris from Horisont Energi AS (OB:HRGI) on December 11, 2023. Transaction is subject to approval by Norwegian authorities and is expected to complete no later than 31 December 2023.

PGNiG Upstream Norway AS completed the acquisition of 50% stake in EXL003 Polaris from Horisont Energi AS (OB:HRGI) on January 3, 2024. The Norwegian Ministry of Energy has approved PGNiG Upstream Norway as operator and partner with Horisont Energi in Polaris (CO2 exploration licence EXL003) the only CO2 storage located in the Barents Sea. Horisont Energi and PUN each hold 50% interest in EXL003.