PGNiG Upstream Norway, an ORLEN Group company, agreed to acquire a stake in Equinor-operated Atlantis field on the Norwegian Continental Shelf from Source Energy. ORLEN aims to maintain long-term stability and high volumes of its gas production in Norway, which will be delivered to Poland via the Baltic Pipe, the company said in a release June 26.
The agreement calls for PGNiG Upstream Norway to gain a 20% stake in the field, providing the company with an anticipated 13 MMboe, including 1.5 billion cu m of natural gas, according to data published by the Norwegian Ministry of Energy.
Atlantis was discovered in 2020 and is one of the five largest discoveries made on the Norwegian Continental Shelf in the last 10 years. Its total recoverable reserves are estimated at 65 MMboe, with upside potential.
The license partners are considering several development options, including a subsea tieback to the platform at Kvitebjørn field (in which PGNiG Upstream Norway holds 6.45% and Equinor is operator) or to the Oseberg field platform (also operated by Equinor). Developing Atlantis with existing infrastructure will limit the costs of production launch and reduce the CO2 intensity of its operation, the companies have said.
