Polish natural gas utility PGNiG SA (PGN.WA) has increased 30% from 15% its stake in a license to explore and produce hydrocarbons on the Norwegian continental shelf, by agreeing to buy a 15% holding from Nexen Exploration Norde AS, the company said in a statement Tuesday.

Following approval by Norway's Oil and Energy Ministry, shareholders in the PL558 license will be E.On Ruhrgas Norge AS with 30%, Det Norske Oljeselskap AS (DETNOR.OS) with 20%, Petoro AS with 20% and PGNiG's Norwegian subsidiary with 30% stake, PGNiG said.

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

Nexen (NYSE:NXY)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more Nexen Charts.
Nexen (NYSE:NXY)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more Nexen Charts.