New strategy of PGNiG: shale gas exploration as a key area of operations

Polish Oil and Gas Company Joint Stock Company (PGNiG SA) adopted its strategy for  2014-2022. The objective of the Group is to maintain its leading position in the E&P industry and the largest natural gas seller that offers also heat and electricity in the conditions of a liberalized gas market.

The new strategy addresses 4 key business areas and 10 strategic initiatives of the Company, including the strengthening and transformation of the oil and gas exploration and production operations which the Company perceives as having a huge potential for growth. The key objective of PGNiG is to maintain a stable domestic production of natural gas and crude oil. However, in order to establish a perspective of continued substantial growth for the shareholders, the Company is planning to build proactively its portfolio of international exploration and production assets.

Moreover, PGNiG will continue efforts to assess the geological and economic potential of shale gas resources in its most prospective Polish concessions. The objective is to prove recoverable reserves of unconventional hydrocarbons and proceed with gas production as soon as possible.

The Company is to focus more on research and development. Innovative and R&D operations are to be streamlined with R&D financing from the EU funds and the portfolio of innovative projects is to be optimized.

Supervisory Board of PGNiG SA approved the GK Strategy of PGNiG for 2014-2022 on 19  December 2014.



source: PGNiG SA


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