Orlen, the Polish energy giant, has significantly strengthened its gas and oil portfolio by acquiring a 20 percent stake in five licenses off the coast of Norway. The transaction, executed by its subsidiary Orlen Upstream Norway, will increase the company’s total hydrocarbon reserves in the region by roughly 15 percent, adding nearly 60 million barrels of oil equivalent (boe).
The deal with Var Energi covers the Goliat field and the adjacent Goliat Ridge discovery. Combined, these assets hold approximately 58 million boe for Orlen, including around 3 billion cubic meters of natural gas – enough to cover almost half of Poland’s annual gas demand. The acquisition marks a major step in Orlen’s strategy to build its own resource base and reduce reliance on external suppliers.
“With one transaction we are making a step change in our Norwegian gas and oil resources. This purchase opens a new chapter in the history of the Orlen group. We are consistently expanding our own raw material base,” said Ireneusz Fąfara, CEO of Orlen. The company plans to invest in additional production wells and start extracting gas that was previously reinjected into the reservoir. By the end of the decade, daily output from these licenses is expected to triple from 4,000 to 12,000 boe.
Strategic expansion in the Barents Sea
The Goliat field, discovered in the late 1990s and in production since 2016, is located in the southern Barents Sea – an area containing over 9 billion boe of recoverable resources, 55 percent of which is natural gas. The infrastructure already in place at Goliat could serve as a hub for developing these reserves, strengthening energy security for Poland and Europe. Gas from Norway reaches Poland via the Baltic Pipe pipeline, which is crucial to the country’s diversification away from Russian supplies.
Wiesław Prugar, Orlen’s vice president for exploration and production, stated: “Over the next four years we will carry out investments that will increase the production capacity from the acquired licenses. As a result, by the end of the decade output from these assets will triple – from around 4,000 to 12,000 barrels of oil equivalent per day. The Goliat and Goliat Ridge fields will produce at least until 2040, providing Orlen Upstream Norway with stable revenues and good conditions for further development.”
Environmental innovation at Goliat
One of the most distinctive features of the Goliat development is its circular floating production, storage and offloading unit (FPSO). Unlike conventional ship-shaped vessels, this design offers maximum stability and safety in the harsh Arctic conditions. The FPSO is powered by electricity from shore, over 90 percent of which comes from renewable sources. As a result, the carbon intensity of Goliat’s production is just 2 kg per barrel of oil equivalent, compared to a global average of 16 kg.
The Norwegian authorities imposed strict environmental requirements when opening the southern Barents Sea for exploration in 1979, and Goliat operates under enhanced safety and ecological standards. The acquisition is subject to standard approval from Norwegian regulators. Upon closing, the ownership structure of the Goliat field will be: Var Energi (operator, 45 percent), Equinor (35 percent), and Orlen Upstream Norway (20 percent).
Źródło: WNP.PL, Fot. Materiały prasowe / Var Energi
