PGNiG Upstream Norway Submits Development Plan for Verdande Field

The Norwegian subsidiary of PKN ORLEN, together with its license partners, has submitted a plan for the development and operation of the Verdande field in the Norwegian Sea. Production start is expected in the fourth quarter of 2025.

The Verdande field is an oil and gas field with estimated recoverable reserves of 36.3 million barrels of oil equivalent. According to the plan for development and operation (PDO) submitted to the Norwegian Ministry of Petroleum, drilling is expected to start in the fourth quarter of 2024, and production will launch a year later. The field will be developed with three wells connected to the infrastructure of the nearby Norne field. This will not only speed up the development process and reduce investment costs but will have a favorable environmental effect thanks to an increase in energy efficiency per unit of hydrocarbons produced in the facility.

The start of the development of the field is dependent upon the approval of the PDO by the Norwegian Ministry of Petroleum and Energy.

PGNiG Upstream Norway’s (PUN) partners in the Verdande field are Equinor Energy -operator, Petoro, Vår Energi, and Aker BP. PUN’s share is 0.8%. PUN’s working interest in the Verdande field results from exploration drilling in an AkerBP-operated PL127C license in 2020 where PUN is a partner. Drilling proved a connection to the nearby Cape Vulture accumulation that in a neighboring license. It was decided to jointly develop both discoveries as a single field.

The Verdande field is located in the vicinity of PUN’s other assets, including the already-producing Skarv and AErfugl fields and the Shrek and Alve Nord fields which are prepared for development.