Polish PGNiG Agrees To Increase Norwegian License Stake To 30%
October 25 2011 - 4:40AM
Dow Jones News
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
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