As previously announced, PGNiG SA intends to consolidate its exploration and production operations on international markets. PGNiG Norway AS is to play a key role in the process under the new leadership of Dr Sławomir Hinc, Vice-President of the PGNiG Management Board responsible for finance and investment and also current member of the Board of Directors at PGNiG Norway AS.
In view of this appointment, on January 22nd 2013 Hinc tendered his resignation as Member of the PGNiG Management Board, with effect from March 31st 2013.
PGNG SA’s international activity in the upstream segment is crucial in the context of the Company’s top priority objective defined in its growth strategy, i.e. to increase crude and gas production from own hydrocarbon reserves. Fulfillment of this objective will require, inter alia, to increase the production of hydrocarbons outside Poland.
The assumption by Sławomir Hinc of the post of President (CEO) of PGNiG Norway AS and the appointment of Geir Kvael, the company’s former CEO, to the position of its Vice-President (Deputy CEO) will ensure a streamlined progress of consolidation of PGNiG SA’s operations on international markets (Egypt, Libya and Pakistan), cost optimisation, and intensification of initiatives designed to increase the production of natural gas and crude oil.
Press Release, January 23, 2013