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LOTOS

Description

The LOTOS Group is a vertically integrated oil company, whose business encompasses exploration for and production of crude oil, processing of crude oil, as well as wholesale and retail sale of high-quality petroleum products. 

Grupa LOTOS is incorporated as a joint-stock company, whose shares have been listed on the Warsaw Stock Exchange (WSE) since June 2005.

The LOTOS Group operate across Poland and abroad. Grupa LOTOS is the parent company of the LOTOS Group which undertakes the management of the Gdansk refinery. It comprises such companies as LOTOS Czechowice and LOTOS Jaslo (both based in southern Poland), LOTOS Petrobaltic (engaged in exploration for and production of crude oil and natural gas from the floor of the Baltic Sea), as well as 14 other subsidiaries using the LOTOS trademark. Two of them are domiciled abroad - in Lithuania (LOTOS Baltija) and Norway (LOTOS Exploration and Production Norge AS). Both operate in the E&P segment, one on the Baltic Sea and the other on the Norwegian Continental Shelf.

Upstream Activities
LOTOS Petrobaltic (formerly Oil and Gas Exploration and Production Company 'Petrobaltic') is responsible for fulfilling the aims of the LOTOS Group within the exploration and extraction of oil and natural gas. LOTOS Petrobaltic is the only Polish firm involved in the exploration and extraction of oil in the Baltic Sea. It has been related to Grupa LOTOS since 2005, when Grupa LOTOS became its majority shareholder. LOTOS Petrobaltic operates in the Polish sea area covering about 29 000 km² and its licenses for the exploration and development of fields cover 7 zones of the total area of 7 100 km². The capital group of LOTOS Petrobaltic encompasses 5 subsidiaries and affiliates. LOTOS Petrobaltic’s operation involve exploration and development in the Baltic Sea as well as acquiring licence for exploration on the Norwegian Shelf and the development of the Yme Production Project. In the North Sea, exploration and extraction is conducted on behalf of LOTOS Petrobaltic by LOTOS E&P Norge established in 2007 (LOTOS Norge Exploration & Production AS) with its registered office in Stavanger, Norway.

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