Polish energy group ORLEN will take over KUFPEC Norway, the Norwegian division of Kuwait's KUFPEC, in a deal valued at $445 million. The move will increase ORLEN's natural gas production in Norway by a third to more than four billion cubic metres a year, making it the fifth largest producer in Norway.
In line with a strategy approved earlier this year, ORLEN plans to invest PLN 90 billion in expanding oil and gas production by the end of the decade.
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