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The agreement was made for the period November 13th 2013 to the end of 2014, and has a value of approximately PLN 420m. The oil will be supplied from the Lubiatów facility and transported via pipeline by Przedsiębiorstwo Eksploatacji Rurociągów Naftowych Przyjaźń S.A.

"The Agreement with BP Europe SE means that we have acquired not only another buyer for the crude oil produced by our recently launched Lubiatów facility, but also a new working partner," said Jerzy Kurella, acting President of the Management Board of PGNiG SA. "Acquisition of such a significant client confirms that investing in exploration for and development of domestic hydrocarbon reserves is the right strategy."

At the beginning of November 2013, PGNiG signed an annex to the agreement on sale of crude oil, including from the Lubiatów facility, to TOTSA TOTAL OIL TRADING SA.

The crude oil and natural gas facility in Lubiatów - the largest recent investment project in the Polish upstream sector - was officially opened on July 29th 2013. The Lubiatów facility's output will allow PGNiG to increase annual domestic crude oil and condensate production from approximately 500 thousand tonnes to approximately 800 thousand tonnes.

According to estimates, total domestic production of crude oil and condensate in the first three quarters of 2013 amounted to nearly 600 thousand tonnes. In the same period, PGNiG Upstream International's production from foreign licences amounted to approximately 189 thousand tonnes.

Press Team of PGNiG SA