ORLEN has acquired stakes in the Albuskjell and Vest Ekofisk oil fields in Norway, enhancing its resource base by approximately 8 million barrels of oil equivalent and supporting its strategy for increased gas production.

Information on the Target

ORLEN, a leading energy and fuel company, recently acquired shares in two oil fields, Albuskjell and Vest Ekofisk, located in the North Sea. This strategic purchase is expected to significantly enhance the company’s resources by approximately 8 million barrels of oil equivalent. In addition, ORLEN Upstream Norway, alongside its partners, has committed to developing these new resources, which will initiate production from three fields, yielding an estimated output of 420 million cubic meters of gas annually.

The acquisition of shares from DNO, amounting to 7.6% in each of the Albuskjell and Vest Ekofisk fields, marks a significant step for ORLEN in solidifying its presence in the Ekofisk area, a crucial region for Norway’s oil industry. The closure of this deal aligns with the company’s strategic investments aimed at enhancing its extraction capabilities in offshore regions.

Industry Overview in Norway

The oil and gas industry in Norway plays a pivotal role in the country’s economy, contributing significantly to GDP through exports and investments. Norway is recognized as one of the world’s largest producers of oil and gas, with ext