ORLEN and Equinor Sign Three-Year Crude Oil Supply Agreement with Annual Volumes Up to Over 9 Million Tonnes

en.Wedoany.com Reported - Polish energy group ORLEN has signed a three-year crude oil supply contract with Norwegian state-owned energy company Equinor for crude from the Johan Sverdrup field on the Norwegian Continental Shelf, with deliveries set to commence in September this year. The crude will be shipped to ORLEN's refineries in Poland, the Czech Republic, and Lithuania to strengthen regional supply security.

The contract provides significant flexibility in volume, with annual deliveries ranging from nearly 5 million tonnes to over 9 million tonnes, potentially covering up to a quarter of ORLEN Group's annual crude oil demand. This arrangement allows both parties to adjust supply volumes flexibly based on market conditions and the refineries' actual operational needs.

The primary crude supplied under this agreement is Johan Sverdrup crude. The field is one of the largest oil fields in the world, with production accounting for approximately one-third of Norway's total crude output. Unlike conventional offshore fields, the Johan Sverdrup platform is powered from shore, primarily using renewable electricity, resulting in lower carbon dioxide emissions during production. The agreement also permits the supply of other crude grades produced on the Norwegian Continental Shelf.

This contract builds on the existing cooperation between the two companies, which have previously collaborated in areas such as production activities, low-carbon projects, and natural gas supplies to Poland. ORLEN views this contract as part of its strategy to diversify supply sources, aiming to enhance operational stability and strengthen resilience against global market volatility and geopolitical risks along transport routes.