The Ministry of Environment has issued a decision as a result of which rights to two concessions, in Lesser Poland (Małopolska) and in Subcarpathia (Podkarpacie), held by DEA Deutsche Erdoel AG, have been transferred to ORLEN Upstream.
As a consequence of the positive decisions made by the concession-granting authority, tripartite agreements have been concluded related to the transfer of rights and obligations under concessions no. 29/2013/p and no. 30/2013/p to ORLEN Upstream.
The company continues, as announced, to expand its portfolio of exploration and production assets. As a result of the agreements concluded in September, ORLEN Upstream acquired 100 per cent of DEA’s share in parts of blocks 433, 434 and 435, located within the area of the Outer Carpathians (Karpaty Zewnętrzne) and of the Carpathian Foredeep (Zapadlisko Przedkarpackie). The decisions made by the Ministry of Environment formally end the acquisition process.
The acquired areas, located in the area of the Małopolska petroleum province, are characterised by their substantial prospecting potential. The transaction that has been completed expands the ORLEN Upstream asset portfolio by a total of over 2,000 square kilometres of land in the area of the Carpathians and of the Carpathian Foredeep, as well as makes it possible to develop prospecting projects which the company has already been carrying out in this part of Poland.