ORLEN Upstream Norway has entered into an agreement with TotalEnergies EP Norge to acquire interests in the Tommeliten Gamma field, located in the Ekofisk region of the North Sea. Finalization of the transaction will increase ORLEN\u2019s reserves by approximately 6 million barrels of oil equivalent. Production from the field is expected to commence in 2029.<\/p>\n\n\n\n
\u201cThis acquisition supports ORLEN\u2019s strategic goal of strengthening its portfolio and improving energy security for its customers,\u201d said\u00a0Ireneusz F\u0105fara, President of the Management Board of ORLEN<\/strong>. \u201cWe increase interest in the field that is expected to deliver up to 300 million cubic meters of gas annually at peak production, helping meet Poland\u2019s energy demand and contributing to ORLEN\u2019s energy transition efforts, while also creating value for shareholders.\u201d<\/p>\n\n\n\n Under the agreement, ORLEN Upstream Norway will acquire additional 20.23% interest in the Tommeliten Gamma field, increasing its total stake to 62.61%. The field is operated by ConocoPhillips and located in the well-established Ekofisk area, where ORLEN already has a presence through its stake in the producing Tommeliten Alpha gas field. Asset acquired from TotalEnergies EP Norge will allow ORLEN Upstream Norway to build on existing operations and benefit from potential synergies within its current portfolio.<\/p>\n\n\n\n The Tommeliten Gamma field was discovered in the 1970s, developed, and produced until 1998, when production was halted due to infrastructure refurbishment in the Ekofisk region. Advances in technology and favorable market conditions have recently led to the decision to re-develop the field and resume production. The partners in Tommeliten Gamma are ConocoPhillips and V\u00e5r.<\/p>\n\n\n\n \u201cThanks to historical production data we have a solid understanding of the characteristics of Tommeliten Gamma and precise information on its resources,\u201d said\u00a0Wies\u0142aw Prugar, Member of the Management Board of ORLEN, Upstream<\/strong>. \u201cThis allows us, together with our partners representing leading global oil and gas companies, to prepare development plan that keep capital costs under control while aiming for strong production results. Planning is already well advanced, and an investment decision is expected by the end of the year.\u201d<\/p>\n\n\n\n The transaction is subject to standard conditions, including investment approvals, as well as consent from Norwegian authorities and other field shareholders.<\/p>\n\n\n\n ORLEN Upstream Norway has been operating on the Norwegian Continental Shelf since 2007. The company’s portfolio includes 21 producing fields and another seven in development. Last year, the company produced over 40 million barrels of oil equivalent, including more than 4.5 billion cubic meters of gas. The natural gas produced by ORLEN Upstream Norway is exported to Poland via the Baltic Pipe pipeline, where it supports the energy transition of the Polish power sector and energy security of the region. The sole owner of the company is ORLEN.<\/p>\n\n\n\n About the Ekofisk Region<\/strong><\/p>\n\n\n\n The Ekofisk area is the cradle of the Norwegian oil industry. The field after which the whole area is named was the first commercial discovery on the Norwegian Continental Shelf in 1969. Production began in 1971 and is scheduled to run until 2048. More than 300 production wells have been drilled in the area, of which more than 200 are still in production. The production infrastructure complex consists of almost 30 production platforms.<\/p>\n\n\n\n ORLEN\u2019s presence in the region includes a stake in the Tommeliten Alpha field, with ca. 65 million barrels of oil equivalent reserves net to ORLEN as well as the Fenris field, currently under development, expected to provide the company with over 42 million barrels of oil equivalent.<\/p>\n","protected":false},"excerpt":{"rendered":" ORLEN Upstream Norway has entered into an agreement with TotalEnergies EP Norge to acquire interests in the Tommeliten Gamma field, located in the Ekofisk region of the North Sea. Finalization of the transaction will increase ORLEN\u2019s reserves by approximately 6 million barrels of oil equivalent. Production from the field is expected to commence in 2029. […]<\/p>\n","protected":false},"author":9,"featured_media":1074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-3067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-de"],"acf":[],"yoast_head":"\n