Orlen wants Egyptian oil

Investors have until May 6 to file binding offers for the purchase of shares in Polish telecoms operator Polkomtel. One player that’s eagerly waiting for that transaction to be wrapped up is Polish refining giant Orlen.

The company could earn as much as zł.4 billion from the sale of its shares in Polkomtel. The refiner is reportedly looking to invest a good slice of that money to gain access to African oilfields.

“We’re planning a cycle of talks through the end of the month in Egypt,” Wiesław Prugar, president of Orlen Upstream, told Puls Biznesu.

“We will then make a decision on partners and methods of extraction. We’re primarily interested in the purchase of an entity that already owns known oil deposits.”

(Source: wbj.pl)


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