PGNiG, Poland's natural gas monopoly has estimated a total capital expenditure of 27 billion zlotys ($9.7 billion) by 2015, with gas exploration and production activities taking the centre stage.

The organisation's new agenda for the next four years sees a huge amount of capital, 15 billion zlotys, spent on E&P activities in Poland and abroad.

Although PGNiG sees a moderate increase of 13% in the production from the domestic gas fields, it is estimating an enormous 4.5 billion cubic metres in 2015 and does not set a production target for its foreign ventures.

The company has in an earlier statement mentioned its intention to produce 0.4 bcm of gas and 0.4 million tonnes of oil from its Norwegian fields next year, the monopoly's core fields of action where they have most of their advanced foreign exploration projects deployed.

From acquisitions in energy sector perspective, the organisation has no immediate plans, instead, PGNiG has now outlined joint ventures in building greenfield gas-fueled power plants with various partners, similar to the ongoing joint project with Tauron in Stalowa Wola.

Internal restructuring seems to be the way forward for the organisation which is also considering sale of few of its subsidiaries and implementation of voluntary layoffs.

Tags: PGNiG