PKN Orlen Says PGNIG Upstream Norway To Start Exploitation Of Verdande Deposit

Polski Koncern Naftowy Orlen SA PKN:

• PGNIG UPSTREAM NORWAY, TOGETHER WITH ITS CONCESSION PARTNERS, SUBMITTED AN APPLICATION FOR APPROVAL OF THE PLAN FOR DEVELOPMENT AND EXPLOITATION OF THE VERDANDE DEPOSIT IN THE NORWEGIAN SEA

• EXTRACTION TO START IN FOURTH QUARTER OF 2025

• VERDANDE IS AN OIL-GAS FIELD WHICH RECOVERABLE RESERVES ARE ESTIMATED AT 36.3 MILLION BARRELS OF PETROLIUM EQUIVALENT

• ACCORDING TO PLAN SUBMITTED TO THE NORWEGIAN MINISTRY OF PETROLEUM AND ENERGY, DRILLING IS TO START AT THE END OF 2024