PGNiG to conduct exploration in southern Denmark

Uchenna Izundu
International Editor

LONDON, Dec. 14 Polish state-owned PGNiG will operate license 1/5 in southern Denmark, near the German border, after it gained a 40% interest under an agreement signed with Willumsen Exploration Consultants APS.

PGNiG said the acreage is attractive because it is similar to fields in the Gorzow and Pomeranian regions, offering good prospects for crude oil discovery in the main Dolomite formation.

"In Germany, 13 oil and gas fields are located in a corresponding zone, including Grimmem and Reinkenhagen fields, and further to the east there are the Polish fields of Wysoka Kamieńska, Kamień Pomorski, and Maszewo," PGNiG said. "On the opposite, southern boundary of the basin, there are the fields of the Gorzow region, and further to the west, numerous German and Dutch fields."

PGNiG will work with Odin Energi AS, which also holds a 40% interest. Nordsofonden, the Danish governmental firm, will hold the outstanding 20%, which covers its share of exploration costs under the license on an ongoing basis.

Contact Uchenna Izundu at uchennai@pennwell.com.

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