Polskie Górnictwo Naftowe i Gazownictwo S.A.

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PGN

PLPGNIG00014

PGNiG to Invest PLN 700 Million into Two Oil and Gas Mines Expansion

June 06, 2022 at 08:38 am EDT

PGNiG willl invest PLN 700 million within 4 years into the expansion of its two oil and gas mines in Lubiatow and Debno in order to increase their capacity and prolong their operations by 15 to 20 Years. Currently, the two largest company's mines are producing over 480,000 tons of oil annually, which accounts for 75% of Poland's oil production. The investment in Debno mine will allow the company to launch production from three natgas drillings and receive ca.

80 mcm gas per year. Also, the company expects to produce additional 440,000 tons of oil after completing another 5 drillings on deposit Barnowko-Mostno-Buszewo, connected to the Debno mine.

Latest news about Polskie Górnictwo Naftowe i Gazownictwo S.A.

Fitch Lifts Polish Refiner PKN Orlen's Ratings Following PGNiG Merger	22-11-09	MT
Moody’s to Withdraw Upgraded PGNiG Rating Following Merger With PKN ORLEN	22-11-08	MT
Polskie Górnictwo Naftowe i Gazownictwo S.A.(WSE:PGN) dropped from WIG 20 Index	22-11-08	CI
Fitch Cancels Polish Gas Group PGNiG's Ratings Following PKN Orlen Merger	22-11-07	MT
Polski Koncern Naftowy ORLEN Spólka Akcyjna (PKN ORLEN) completed the acquisition of Polskie Górnictwo Naftowe i Gazownictwo S.A. from the State Treasury.	22-11-01	CI
Polski Koncern Naftowy ORLEN Spólka Akcyjna completed the acquisition of Polskie Górnictwo Naftowe i Gazownictwo S.A.	22-11-01	CI
Norway sends first gas to Danish Baltic Pipe terminal	22-11-01	RE
Polskie Górnictwo Naftowe i Gazownictwo S.A.(WSE:PGN) dropped from FTSE All-World Index	22-10-31	CI
Polskie Górnictwo Naftowe i Gazownictwo S.A.(WSE:PGN) dropped from S&P Global BMI Index	22-10-31	CI
Moody's Upgrades Polish Refiner PKN Orlen On Shareholder Nod For PGNiG Merger	22-10-28	MT
PGNiG Nat Gas Secures Doubling of Its Loan Facility from Pekao	22-10-21	CI
PKO Bank Polski sells 14.2 mln PKN Orlen shares	22-10-18	RE
PKO Bank Polski starts sale of 14.16 mln PKN Orlen shares	22-10-17	RE
Shell Confirms Normal Gas Flow at Norwegian Facility After Hoax Threat	22-10-13	MT
Polish Gas Group PGNiG Shareholders Back PKN Orlen's Takeover Offer	22-10-11	MT
Poland's PGNiG shareholders approve takeover by PKN Orlen	22-10-10	RE
Poland appoints temporary governance for Russian firm Novatek	22-10-07	RE
Factbox-Baltic Pipe gas calms European nerves over Russian shortfall	22-10-07	RE
Polish refiner Orlen should escape windfall tax, says CEO	22-10-04	RE
Poland's PKN Orlen sees takeover of gas firm PGNiG within weeks - CEO	22-10-04	RE
Poland's PGNiG signs 10-year capacity deal with Klaipeda LNG	22-09-30	RE
Poland's PGNiG Secures 10-year LNG Contract From Lithuania	22-09-30	MT
Poland's PGNiG Secures 10-year LNG Contract From Lithuania	22-09-30	MT
PGNiG Natgas Signs PLN 23 Billion Deal to Supply Gas to Power Group PGE's Plants	22-09-30	CI
Poland's PZU buys 14.2 million shares in PKN Orlen from state treasury	22-09-29	RE

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Company Profile

Polskie Górnictwo Naftowe i Gazownictwo S.A. is the leading Polish produce of natural gas. Net sales break down by activity as follows: - trading and storage of natural gas (77.1%); - distribution of natural gas (10.7%); - exploration and production of hydrocarbons (8%); - production of electricity and heating (3.8%); - other (0.4%). Poland accounts for 85.5% of net sales.

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