„Having realized several big investments, our potential to finance exploring program from our own funds or credits is limited. The only solution is to find a strategic partner, from the Persian Gulf preferably. Those countries have big oil fields and are eager to take part in foreign production projects”, Jacek Krawiec said.
In April, PKN Orlen said it had started looking for oil with Kuwait Energy Company. According to Jacek Krawiec, next to Arab investors, companies from the USA, the UK or Norway could become the company’s partners. The state, which owns 27 percent of the company, won’t like to give up its share. PKN Orlen has its own ideas how to lure partners but refuses to reveal them. Analysts expect that the company may lease its refineries to its Arab partners.
In the country, PKN Orlen wants to look for oil with PGNiG gas monopoly. The idea is not new. In 2006, the companies signed contract to cooperate at the exploration of oil and gas. PKN may also want to import oil by the sea.
“In July and August, we produced 550,000 tons of Norwegian oil. Profitability is similar to the one reached while processing Russian Rebco oil”, Jacek Krawiec stressed.
PKN Orlen is also negotiating with Lithuanian government to provide oil
deliveries to its Mazeikiu refinery.