GEOFIZYKA Kraków Group
The Geofizyka Kraków Group provides geophysical services in the area of field seismics with the use of 2D and 3D sources of vibration- or dynamite-induced excitation, processing and interpretation of seismic data from geophysical surveys, performance of measurements, operations and special work in wells, interpretations and perforations. The group also offers drilling seismometry services.
In 2009, the Geofizyka Kraków Group's sales revenue reached PLN 289.7m. The revenue from services provided to the PGNiG Group companies represented for 81% of the total, of which 54% was attributable to 2D and 3D seismic surveys carried out within the POGC Libya licence. The services provided by the Geofizyka Kraków Group to third-party customers included geophysical logging in Slovakia as well as processing and interpretation of data and performance of in-well measurements in the Czech Republic. In 2009, the group relaunched its operations in Pakistan to complete the work under a contract discontinued in the previous year.
In 2010 in Poland, Geofizyka Kraków will conduct 2D and 3D seismic surveys and provide data processing, reprocessing and interpretation services under contracts with PGNiG, RWE DEA AG, KGHM Polska Miedź and Orlen Upstream. Abroad, the company will conduct 2D and 3D seismic surveys in Libya and Pakistan.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 289.7 | 178.8 |
226.5 | 196.7 |
| Net (loss) profit | PLN m | 12.7 | 0.2 | 2.1 | 6.1 |
| Equity | PLN m | 100.6 | 90.1 | 64.0 | 61.7 |
| Total assets | PLN m | 218.1 | 205.0 | 202.0 | 214.2 |
| Headcouns | persons | 1,361 | 1,124 |
874 | 1,046 |
| as at the end of each year | |||||
GEOFIZYKA Toruń sp. z o.o.
Geofizyka Toruń offers geophysical services in the area of seismic surveys, including design work and acquisition of data, digital processing of data and comprehensive geophysical and geological interpretations. The company also provides services in the area of geophysical surveys and operations in wells, including their interpretation, as well as drilling services. In addition, Geofizyka Toruń's offering includes geophysical tests as part of environmental protection activities, as well as geological and hydrogeological testing.
In 2009, Geofizyka Toruń's sales revenue amounted to PLN 268.3m, 56% of which represented revenue from services provided to third-party customers (85% of that revenue was derived for export of services). The company's services abroad included acquisition of seismic data in Denmark, India, Thailand and Germany. The company provided its services related to the processing of seismic data to customers in Algeria, India and Nigeria. In Poland, Geofizyka Toruń's operations included acquisition of seismic data, geophysical surveys and operations in wells mainly for PGNiG (other customers included Lane Energy Poland and FX Energy Poland).
In 2010, Geofizyka Toruń's objective will be to consolidate its position on the domestic market and foreign markets (India, Iran, Germany, Egypt and Thailand). In Poland, the company will carry on work related to acquisition, processing and interpretation of seismic data and will perform shallow geophysical tests. As part of its operations abroad, the company was awarded tenders for acquisition and processing of 2D and 3D seismic data in India and Germany and will commence related work in 2010.
| 2009 |
2008 |
2007 | 2006 | ||
| Sales revenue | PLN m |
268.3 |
332.4 | 314.6 |
301.8 |
| Net (loss) profit | PLN m |
3.1 | 32.2 | 16.9 |
5.2 |
| Equity | PLN m |
157.0 | 168.1 | 140.7 | 34.7 |
| Total assets | PLN m |
212.4 | 252.1 | 219.3 | 131.6 |
| Headcouns | persons | 1,106 | 1,186 |
1,213 |
1,187 |
| as at the end of each year | |||||
PNiG Jasło sp. z o.o. (Poszukiwania Nafty i Gazu Jasło sp. z o.o.)
The core business of Poszukiwania Nafty i Gazu Jasło consists in drilling of exploratory and production wells, reconstruction and decommissioning of wells and performance of specialist drilling services, including cementing, mud services, well reinforcement, as well as maintenance of control and instrumentation at well surface installations.
In 2009 in Poland, PNiG Jasło provided services mainly to the PGNiG Group. The company's sales revenue was PLN 269.4m, of which revenue from services provided to the PGNiG Group accounted for 68%. Services provided to third-party customers included drilling a geothermal well for the Lux Veritatis Foundation and execution of wells for RWE Dea Polska. The company also provided cementing services to Pol-Tex Methane and Petrobaltic. Outside Poland, the company performed drilling work in Libya, geothermal drilling work in Germany and reconstruction work in Russia. In Lithuania, Latvia and Ukraine, PNiG Jasło performed specialist services in the area of reconstruction and drilling, cementing, as well as Datawell services.
In 2010, PNiG Jasło will continue drilling work in Poland mainly for PGNiG. Abroad, the company will commence drilling exploratory wells in Germany and will provide specialist services in Libya, Lithuania, Latvia and Ukraine.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 269.4 | 281.9 | 236.3 | 200.3 |
| Net (loss) profit | PLN m | 6.5 | 18.2 | 9.2 |
1.3 |
| Equity | PLN m | 139.9 | 142.0 | 127.6 | 102.8 |
| Total assets | PLN m | 213.3 | 219.6 | 194.1 | 161.9 |
| Headcouns | persons | 904 | 932 | 861 | 832 |
| as at the end of each year | |||||
The PNiG Kraków Group
The PNiG Kraków Group is composed of Poszukiwania Nafty i Gazu Kraków and its subsidiary - Oil Tech International - F.Z.E. The core business of PNiG Kraków consists in geological, exploratory and production drilling, reconstruction of wells and maintenance services related to drilling, testing and operation of wells. The company also provides mine rescue services as well as hospitality, catering, rental and training services. Oil Tech International - F.Z.E. provides services involving provision of operator teams, materials, and plant and equipment to PNiG Kraków.
In 2009, the PNiG Kraków Group sales revenue reached PLN 382.4m. Revenue from services provided to third-party customers accounted for 55% of that figure (95% of that revenue was derived for export of services). Abroad, the PNiG Kraków Group performed production well drilling operations in Kazakhstan, Uganda and Ukraine as well as exploratory and appraisal well drilling operations in Pakistan. The group's main customer in Poland was PGNiG. The Group performed drilling work in the area of the Carpathian Mountains and Carpathian Foothills; it also provided drilling services for the Strachocina underground gas storage facility.
In 2010, the PNiG Kraków Group plans to continue executing contracts for drilling service concluded in 2009 in Kazakhstan, Pakistan, Uganda and Ukraine. Under the contracts concluded with Polish companies the PNiG Kraków Group will continue drilling work at wells.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 381.9 | 360.2 | 301.0 |
252.7 |
| Net (loss) profit | PLN m | 16.0 | 5.6 | 17.3 |
9.9 |
| Equity | PLN m | 182.7 | 182.5 | 166.3 |
97.9 |
| Total assets | PLN m | 359.4 | 395.3 | 368.6 | 263.5 |
| Headcouns | persons | 1,211 |
1,344 |
1,353 |
1,319 |
| as at the end of each year | |||||
PNiG NAFTA sp. z o.o. (Poszukiwania Nafty i Gazu NAFTA sp. z o.o)
PNiG Nafta's offering consists primarily in design, execution and documentation of research, prospecting, exploratory and production wells. The company also provides specialist drilling services, and deals with drilling of wells for underground storage of hydrocarbons, decommissioning of wells in used-up reserves and reconstruction of developed wells. In addition, the company provides support services through its workshop specialising in repair of drilling equipment, and storage facilities.
In 2009, the PGNiG Group was the company's key customer in Poland. The company's total sales revenue was PLN 251.7m, with the revenue from the services provided to the PGNiG Group accounting for 77% of that figure. In 2009, the company conducted drilling work for PGNiG at Kosakowo and Wierzchowice underground gas storage facilities as well as at the Mogilno underground gas storage facility as part of a project carried out by INVESTGAS. Outside Poland, PNiG Nafta executed drilling work in Egypt and Hungary.
In 2010 in Poland, PNiG Nafta will continue drilling work for the underground storage facilities in Mogilno, Kosakowo and Wierzchowice, and will commence drilling work as part of exploration for unconventional sources of gas. Abroad, the company will perform drilling work in Egypt, India and Slovakia.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 251.7 | 284.7 | 262.0 |
188.4 |
| Net (loss) profit | PLN m | 12.3 | 34.6 | 36.5 | 11.1 |
| Equity | PLN m | 182.8 | 180.2 | 160.9 |
69.9 |
| Total assets | PLN m | 300.2 | 318.2 | 267.1 |
146.4 |
| Headcouns | persons | 763 | 773 | 713 | 679 |
| as at the end of each year | |||||
PN Diament sp. z o.o. (Poszukiwania Naftowe "Diament" sp. z o.o.)
The core business of PN Diament consists in providing specialist drilling services which include: well drilling, repair work, decommissioning of wells, production testing of wells, deep measurements, production intensification and other work with the use of coiled tubing and nitrogen units, as well as well reinforcement and drillstem testing with blowout prevention equipment. The company also conducts activities comprising general construction engineering, road construction and municipal waste dump construction, and provides vehicle repair, transport and equipment services.
In 2009, PN Diament's sales revenue amounted to PLN 163.1m, 67% of which represented sales to the PGNiG Group companies. For the PGNiG Group, the company conducted well drilling work, carried out repairs and decommissioning of wells, and provided a range of specialist services, including well intensification and repair, cementing and mud services. A consortium of PN Diament and PNiG Jasło drilled exploratory wells for KGHM Polska Miedź in copper deposit licences. Furthermore, the company rendered general construction engineering services (mainly related to road and on-ground structures) to third-party customers.
In 2010, PN Diament will provide services related to general construction engineering to third-party customers, as well as well drilling, repair, well-decommissioning and other specialist services for the PGNiG Group. Furthermore, the company intends to drill exploratory wells for KGHM Polska Miedź.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 163.1 | 209.2 |
161.3 |
121.2 |
| Net (loss) profit | PLN m | 6.6 | 6.8 | 8.8 |
9.1 |
| Equity | PLN m | 95.6 | 92.2 | 91.7 |
72.4 |
| Total assets | PLN m | 125.4 | 134.0 | 132.9 |
101.2 |
| Headcouns | persons | 675 | 675 |
613 | 568 |
| as at the end of each year | |||||
ZRG Krosno sp. z o.o. (Zakład Robót Górniczych Krosno sp. z o.o.)
Zakład Robót Górniczych Krosno is a specialist well mining service company. Its business comprises in particular work in producing wells, including repair and reconstruction of oil and gas producing wells, shallow drilling (up to approximately 1 km), production well recompletion, and decommissioning of wells, infrastructure and drilling pits, as well as other reclamation work. In addition, the company provides a wide range of production intensification, measurement and laboratory services.
In 2009, ZRG Krosno posted total sales revenue of PLN 83.1m, 91% of represented sales to the PGNiG Group. Other customers include domestic well mining companies engaged in exploration for mineral reserves and geothermal waters. In Poland, ZRG Krosno provided services at wells, chiefly related to reconstruction, decommissioning, production intensification and measurement of deposit parameters. Outside Poland, the company provided services related to production intensification and measurement of deposit parameters in Ukraine and Slovakia.
In 2010, ZRG Krosno will conduct work at wells for customers in Poland, which will consist mainly in repair, reconstruction and decommissioning services. Abroad, the company's operations will include production intensification and measurement of deposit parameters in Ukraine and Slovakia. Furthermore, the company was awarded a tender for reconstruction of six wells in the Czech Republic and will commence the related work in 2010.
| 2009 |
2008 | 2007 | 2006 | ||
| Sales revenue | PLN m | 83.1 | 79.1 | 88.6 |
60.1 |
| Net (loss) profit | PLN m | 2.3 | 3.9 | 3.9 |
0.4 |
| Equity | PLN m | 41.8 | 41.3 | 39.2 |
31.0 |
| Total assets | PLN m | 58.7 | 59.5 | 62.0 |
47.4 |
| Headcouns | persons | 435 | 436 | 427 | 411 |
| as at the end of each year | |||||
PGNiG Norway A/S
PGNiG Norway was established to implement the project on the Norwegian Continental Shelf, which is aimed at increasing the volume of oil and gas reserves held outside of Poland. PGNiG Norway's core business comprises exploration and production of crude oil and natural gas fields on the Norwegian Continental Shelf (NCS).
PGNiG Norway holds a 15% interest in three licence areas (PL212, PL212B and PL262) covering the Skarv and Snadd fields. The company's interest in the Skarv, Snadd and Idun fields is 12%. The development of the fields is carried out from a floating production, storage and offloading (FPSO) unit and is one of the largest projects implemented in Norway. Under the project, 16 wells will be drilled, including seven oil production wells, five natural gas production wells and four injectors. At a later stage of the reserve life, the injectors will be transformed into gas producers in order to fully exploit the reserve potential. Production is expected to commence in 2011.
In January 2009, PGNiG Norway acquired, free of charge, a 30% interest in the PL350 licence (under an agreement with StatoilHydro Petroleum) and a 25% interest in the PL419 licence (under an agreement with Nexen Exploration Norge). Following completion of the licence awarding process in April 2009, PGNiG Norway came to own a 35% interest in the PL521 licence and in January 2010 - 15% interest in the PL558 licence on the Norwegian Continental Shelf. Since February 2010, PGNiG Norway has held the status of an operator on the Norwegian Continental Shelf, which gives the company the right to apply for the function of the operator of both the existing and new licences. The company was granted the status in the prequalification process involving an analysis of PGNiG Norway's ability to conduct exploration and production operations.
| 2009 |
2008 | 2007 | ||
| Sales revenue | PLN m | 0 | 0.0 | 0.0 |
| Net (loss) profit | PLN m | (32.4) | (41.8) | (7.2) |
| Equity | PLN m | 382.4 |
162.8 | 217.5 |
| Total assets | PLN m | 2,551.0 | 1,412.3 | 1,075.4 |
| Headcouns | persons | 20 | 19 | 10 |
| as at the end of each year | ||||
POGC-Libya BV
The core business of Polish Oil and Gas Company - Libya consists in exploration for and production from hydrocarbon reserves in Libya. The company carries out exploration work under licence No. 113 located in the Murzuq petroleum basin pursuant to the Exploration and Production Sharing Agreement (EPSA) of February 2008 concluded with the Libyan government.
In 2009, the company commenced 2D and 3D seismic survey and seismic data processing. The first phase of the 3D seismic survey was completed in December 2009, whereas the 2D seismic survey and seismic data processing will continue in 2010. In addition, the company plans to commence interpretation of geophysical data and drilling of the first well at the end of 2010.
| 2009 |
2008 | 2007 | ||
| Sales revenue | PLN m | 0 | 0.0 |
0.0 |
| Net (loss) profit | PLN m | (157.8) | (8.1) | (1.4) |
| Equity | PLN m | 39.6 |
(6.3) | 2.8 |
| Total assets | PLN m | 61.7 | 56.4 | 2.8 |
| Headcouns | persons | 25 | 13 | 0 |
| as at the end of each year | ||||