PKN Orlen eyes North America
PR dla Zagranicy
Jo Harper
23.06.2015 14:17
PKN Orlen, the largest domestic refiner, plans to buy another oil deposit in North America in 2015, CEO Jacek Krawiec said.
Photo: Wikipedia/Hedavid
PKN has invested about PLN 1.2 billion in deposits in Canada to date. "But that's not the end. This year we want to complete another acquisition in North America, capitalising on attractive pricing of upstream assets," Krawiec told reporters on Tuesday.
Orlen Upstream (OU), a subsidiary of PKN Orlen, is also looking to buy companies in North America. Its Canadian subsidiary TriOil was bought in 2013.
The company has around PLN 5.1 billion to spend as part of its investment plan for 2013 to 2017.
OU owns 10 licenses for shale gas exploration and production in Poland and will use some of the fracking technology held by the acquired companies in North America, the company said previously. (jh)