The Norwegian unit of Polish gas company PGNiG SA (PGN.WA) Tuesday signed a seven-year $400 million credit agreement to finance its upstream investments on the Norwegian continental shelf, PGNiG said in a statement.

The agreement was signed with a consortium of seven banks including Credit Agricole SA (ACA.FR), BNP Paribas SA (BNP.FR), Societe Generale SA (GLE.FR), Natixis (KN.FR), Bank of Tokyo Mitsubishi UFJ, UniCredit SpA's (UCL.MI) German unit UniCredit Bank AG, and KBC Group NV's (KBC.BT) Irish unit KBC Bank NV.

According to earlier reports, PGNiG has shares in eight exploration licenses on the Norwegian continental shelf and plans to get another three this year.

-By Marcin Sobczyk, Dow Jones Newswires; +48 22 447 2432; marcin.sobczyk@dowjones.com
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