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The awarding of a concession for exploration of oil and gas fields by Silurian Sp. z o.o. - a company belonging to PETROLINVEST GROUP Print E-mail
Own release   
17.06.2011
The Management Board of PETROLINVEST S.A. (the “Company”) announces that on 16 June 2011 it received a notice of awarding to Silurian Sp. z o.o. (a subsidiary of PETROLINVEST S.A.) (“Silurian”) by the Minister of Environment Concession No 24/2011/p for the exploration of oil and gas fields in “Gołdap” area (a part of concession blocks No 57, 58 and 59) covering 620.82 km2(the “Concession”).

The validity period of the Concession has been set at 3 years from the date of awarding.
Pursuant to the terms and conditions of the awarded Concession, the scope of exploration works has been divided into two stages where the first one, to be realised within 12 months, covers reprocessing, reinterpretation and analysis of geological data and the second, scheduled for 24 months, - the acquisition of a seismic 2D survey.

The Concession awarded to Silurian is the fourth positively examined concession of the northern block which also comprises the previously awarded exploration concessions (described in detail in current report No 48/2011 dated 7 June 2011); the total area covered with the awarded concessions is currently 2,333.55 km2. The increase of the area under concessions means for Silurian a consistent increase of its capabilities in the field of shale gas exploration in Poland and constitutes an element of the implementation of the PETROLINVEST Group’s extended strategy in this segment.

Download current report no. 53/2011