Exploration and production (upstream business)
LOTOS Petrobaltic is the only company engaged in upstream oil operations in the Polish economic zone of the Baltic Sea.
Management approach
The vehicle through which the LOTOS Group pursues its objectives and projects in the area of exploration for and production of oil and gas is LOTOS Petrobaltic, the only company engaged in upstream oil operations in the Polish economic zone of the Baltic Sea.
Achievements
As at the end of 2010, LOTOS Petrobaltic delivered positive financial results, which turned out better than planned. Equally important was the maintenance of production volumes on a par with, or even slightly above, the previous year’s level.
Development plans
Going forward, the objective for the upstream business is to develop international operations and hold a portfolio of assets with diversified risk profiles, comprising fields at various stages of development.
