ORLEN secures up to a quarter of oil demand

ORLEN signed a three-year oil supply agreement with Equinor from the Norwegian Continental Shelf. The contract covers almost 5 to 9 million tonnes of raw material per year, which in the upper range corresponds to about one quarter of the ORLEN Group's annual demand. The first deliveries will start in September.

Norwegian oil supply direction

Oil will go to the ORLEN refinery in Poland, the Czech Republic and Lithuania. The basic species supplied under the agreement will be Johan Sverdrup, mined from one of the largest deposits on the Norwegian Continental Shelf. The contract also allows supplies of other species Norwegian oil.

The safe future begins with decisions taken in advance. That is why we are strengthening the ORLEN Group's access to stable sources of oil from Norway, which can account for up to a quarter of our annual demand. Equinor is a reliable partner for us, with whom we build relationships based on shared responsibility for the region's energy security.

Mr Ireneusz Fafara, President of ORLEN

ORLEN with flexible oil contract

Supply volumes will be adapted to the current needs of the Group. The annual volume was set at close to 5 million to over 9 million tonnes, so that ORLEN will be able to change the scale of purchases according to the needs of refineries and market conditions.

This agreement shows how important energy supplies from the Norwegian Continental Shelf play a role in strengthening Europe's energy security. We are pleased that thanks to the oil supply agreement to the ORLEN refinery in Poland, Lithuania and the Czech Republic we are strengthening our cooperation with the company.

Irene Rummelhoff, Executive Vice President of Equinor for Marketing, Midstream and Processing

Johan Sverdrup is responsible for about a third of oil production in Norway. Extraction platforms are powered by electricity supplied from land, which allows to reduce CO2 emissions associated with exploitation deposit.

The new agreement extends the existing cooperation of both companies. ORLEN and Equinor already cooperate on mining activities in the Norwegian Continental Shelf and on low-carbon solutions projects. The long-term oil contract increases the share of supplies from Norway in the supply of Group refineries.