LOTOS Exploration & Production Norge
- LOTOS Exploration & Production Norge
The LOTOS Group S.A., owned to 53% by the Polish state and listed on the Warsaw stock exchange, is an integrated international oil company – the 2nd largest company in Poland and 6th in Central & Eastern Europe, currently employing 5.000 great individuals. The business consists of extraction and processing of crude oil, as well as wholesale and retail sale of high-quality petroleum products. The group comprises 15 companies under the LOTOS brand.
LOTOS Exploration & Production Norge is a young company that has developed significantly in only a few years. We have a long-term commitment to build a strong presence, and step-by-step we are taking the position as a significant player on the Norwegian Continental Shelf. Establishing in Stavanger 2007 we were pre-qualified as Operator in 2008, we operated our first exploration well drilling in 2012. By acquiring shares in 14 Heimdal area licences from Centrica in November 2013, LOTOS is now becoming a partner in 3 production fields and is taking over the operatorship of Fulla in the North Sea. In Norway we are currently 19 employees, 14 men and 5 women, from 7 different nations and all with high education level and 20+ years of experience. And it doesn’t stop there.
The group has a strategic focus to invest in the exploration and production (E&P) segment to secure upstream assets. Our strategy encompasses the full spectrum – from exploration and appraisals to development and re-development, production and abandonment for a small company. We will build ourselves up rather than engage in short-term projects, and we will build from scratch. And we will continue to actively participate in fast track projects and seek partnership, licenses and AMI-groups with companies sharing our values and ambitions. We will build a license portfolio to support organic growth and be present in license rounds every year. We assume several acquisitions before 2020 and will Pursue IOR programs to achieve stable production level and increased reserve base. We are aiming to drill 2-3 exploration wells per year, one as operator. We will also farm-in to exploration and licenses to reduce lead-time. How’s that for ambition?
No longer will big beat small. Instead fast will beat slow.
The LOTOS Group is a very modern and developing capital group that plans well and moves quickly. We identify a strategy and we follow it. We build on core areas where we have the understanding and knowledge to develop unique value. This enables us to look five steps ahead instead of one. We do things a bit differently. And we are proving that we have what it takes to be successful on the North Sea and Norwegian Sea.
Our people are at the center of our strategy. With high integrity and trust we keep our promises and foster an open and honest communication. We count on each individual to make a difference, and we want to be the experts. We are highly ambitious and strive to continually improve our skills and qualifications, performing our duties to the highest standards of care and objectivity. This gives birth to creativity and cooperation across all relevant borders, and the possibility to achieve our common goals. Faster.
The LOTOS Group has been awarded for minimizing its environmental footprint, awarded the Silver CSR Leaf, ranked third in the Most Sought-After Employers in 2012 by Experts and Managers survey within our sector, and we have qualified 6 times in a row to the Respect Index on the WSE. We make no compromises with Health, Safety and Environment. Just to mention a few reasons why our brand value has quadrupled in 8 years.