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Integrated Annual Report 2012
The Culture of Values


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Grupa LOTOS S.A. - Integrated Annual Report 2012

Exploration and production


The LOTOS Group views further development of the exploration and production segment as a priority. The LOTOS Group’s development directions until 2020 provide for:

  • Increased production of hydrocarbons to approximately 100,000 boe/day (equal to 5m tonnes of crude a year),
  • Access to proven recoverable reserves of hydrocarbons of approximately 330m boe in 2020.

Strategic objectives for the exploration and production business are achieved through:

  • Continued operations in the Baltic Sea, in Lithuania, on the Norwegian Continental Shelf and in the North Sea,
  • Acquisition of hydrocarbon deposits with a low or moderate risk profile,
  • In the short term, projects in their final stage of development and/or in the production phase; in the long term, growth projects and acquisition of new licences,
  • Looking for growth opportunities in market niches beyond the oil majors’ interests,
  • Acquisition of new licences as part of the development of the onshore and offshore exploration and production business, including in the area of unconventional hydrocarbon exploration.


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