PGNiG Inaugurates Lubiatów Oil and Gas Facility

Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG) inaugurated the Lubiatów oil and gas production facility, called by the company ‘the largest investment project in Poland’s petroleum production industry in recent years.’ 

“Gas and oil are flowing to the surface and becoming the distinguishing feature of this part of Poland. Of course, these three fields (Lubiatów-Międzychód-Grotów) will not allow us to become fully independent in meeting our energy needs, but facilities as modern as the Lubiatów oil and gas production facility, one of the most advanced plants of its type in Europe, are certainly a very important addition to our energy mix,” said Prime Minister Donald Tusk, who intervened to the ceremony with Poland’s State Treasury Minister Włodzimierz Karpiński.

Tusk underlined the importance of energy independence for the country, claiming that “there is no better cure for crisis and despair than examples such as Lubiatów, showing that we can build and overcome pessimism and people’s lack of faith.”

Lubiatów, Międzychód and Grotów are among the largest fields in Poland, with PGNiG estimating recoverable reserves at around 7.25 tonnes of crude oil and approximately 7.3 billion cubic metres of natural gas.

"The launch of production at the Lubiatów facility will strengthen PGNiG's leading position in the Polish upstream sector, and the significant growth in crude oil production will have a positive effect on the Company's financial performance. This is good news for the shareholders," said Jerzy Kurella, acting President of the Management Board of PGNiG SA, in a note released on Tuesday. 

The value of the project is PLN 1.7bn (VAT inclusive). It was executed by a consortium of PBG SA, Tecnimont KT S.p.a., and Thermodesign Engineering Ltd.