• Natural Gas News

    Poland mulls upstream JV with Qatari Black Cat

Summary

The two companies see greater potential from their combined strengths.

by: William Powell

Posted in:

Complimentary, Natural Gas & LNG News, Middle East, Corporate, Exploration & Production, News By Country, Poland, Qatar

Poland mulls upstream JV with Qatari Black Cat

Polish state energy company PGNiG and Qatari Black Cat Engineering & Construction are planning the joint development of upstream oil and gas activities, they said September 30 after signing an MoU.

As well as the Gulf states, the scope of common interest includes hydrocarbon-rich countries in Middle and Far East, central Asia and Africa.

"The companies wish to combine their experience and technological capabilities to prepare a joint offer for the markets of the largest crude oil and natural gas producers," they said.

The potential joint offer will include PGNiG's digital Smart Field programme, which is used to model fields and improve production efficiency in Poland. The company says it added over 11bn m³, or 12%, to its proven recoverable reserves using the programme. PGNiG said joining forces with the Qatari company would allow it to "offer state-of-the-art services, which will secure us a competitive advantage even in the most demanding and mature oil and gas markets."

Black Cat said its expertise is in engineering, procurement and construction projects, including infrastructure for hydrocarbon transport and storage. Being in Qatar, it is free to operate in the member states of the Gulf Cooperation Council (GCC). 

The proven hydrocarbon reserves of the GCC's member states are about 71bn mt of oil and 39 trillion m³ of natural gas. PGNiG won an upstream licence in the emirate of Ras al Khaimah in 2018. The first well is scheduled for Q3 2022.