Poland's second-biggest oil refiner Lotos has launched test production at its oil field at the Baltic Sea, the group's key upstream project, the company said on Oct. 6.
The B8 field is estimated to have about 3.5 million tonnes of oil where Lotos has said it plans to produce ultimately some 250,000 tonnes.
Lotos Chief Executive Pawel Olechnowicz said last month that commercial output at the B8 field would be launched in 2016.
After commercial output begins, the company has said B8 would produce up to 5,000 oil barrels per day to be the third biggest production field in Poland. Lotos is now producing 24,000 barrels a day.
Recommended Reading
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.