In February 2016, total production of crude oil by LOTOS Petrobaltic, LOTOS Norge and LOTOS Geonafta, which operate in Poland, Norway and Lithuania, crossed the mark of one million barrels. 

LOTOS Exploration and Production Norge AS has entered into an agreement with ExxonMobil Exploration and Production Norway to acquire a portfolio of assets in the Sleipner gas field located in the North Sea.

LOTOS Petrobaltic, the sole company engaged in crude oil and natural gas exploration and production in the Polish economic zone of the Baltic Sea, has launched initial production from a new field. The field is the B8 oil field, holding an estimated 3.5m tonnes of oil.

In the Nauta Shipyard of Gdynia, an overhaul of the LOTOS Petrobaltic drilling rig, undertaken to renew the rig’s classification certificate, has been completed. All work was designed to further improve safety-at-work and environmental performance.

Seeking to achieve a reasonable rate of return on its investment and considering the difficult situation on the global oil market, LOTOS Petrobaltic has made a decision to modify its plans for upgrading the ‘Petrobaltic’ rig. At the same time the company would like to clearly state that other work on the development of the B8 field is progressing on schedule.

LOTOS Petrobaltic S.A. has signed a contract for the conversion of its drilling rig into a production unit. The consortium of the project's contractors consists of companies controlled by Polska Grupa Zbrojeniowa S.A. (Energomontaż – Północ Gdynia and Nauta Shiprepair Yard) and a domestically-owned shipyard, Crist.

Włodzimierz Karpiński, Minister of the Polish State Treasury, and Rafał Baniak, Under-Secretary of State at the Ministry of State Treasury, have visited one of four LOTOS Petrobaltic's drilling rigs operating in the Baltic Sea.

Thanks to committed efforts by Polskie Inwestycje Rozwojowe S.A. and two banks, Bank Gospodarstwa Krajowego and Bank Pekao S.A., LOTOS will obtain financing for development of the B8 field.

LOTOS Exploration & Production Norge and PGNiG Upstream International have signed a letter of intent for collaboration in projects on the Norwegian Continental Shelf. The companies are to work together in the review and pursuit of potential acquisitions, and will participate together in licensing rounds held by the Norwegian Ministry of Petroleum and Energy.

Today, the offshore platform newly purchased by LOTOS Petrobaltic, the sole company conducting hydrocarbon exploration and production work in the Polish zone of the Baltic Sea, has arrived in Poland. The Industrial Development Agency and Nordea Bank Polska S.A. were both involved in the project for the new platform.

Following the drilling of an exploration well in the Trell prospect, the presence of crude oil was confirmed in the PL 102F licence area. LOTOS Exploration & Production Norge holds an interest in this licence, acquired in 2013 as part of the Heimdal portfolio. This marks the first time oil has been discovered in a Polish-held Norwegian licence area.

Lotos Exploration & Production Norge AS has been awarded two new production licenses on the Norwegian Continental Shelf. The offers were issued on the 21st of January after the authorities had evaluated applications from 50 companies in the Awards in Pre-defined Areas (APA) 2013.