B3 is a producing conventional oil field located in shallow water in Poland and is operated by Lotos Petrobaltic. The field is located in block B 3, with water depth of 279 feet.

Field participation details

The field is owned by Grupa Lotos.


Production from B3

The B3 conventional oil field recovered 76.33% of its total recoverable reserves, with peak production in 2003. The peak production was approximately 5.37 thousand bpd of crude oil and condensate and 2 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2050. The field currently accounts for approximately 2% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 7.07 Mmboe, comprised of 6.2 Mmbbl of crude oil & condensate and 5.2 bcf of natural gas reserves.


About Lotos Petrobaltic

Lotos Petrobaltic SA (LOTOS Petrobaltic), a subsidiary of Grupa Lotos SA, is an upstream oil and gas exploration and production company. The company offers exploration and production of hydrocarbons deposits and extraction of crude oil and natural gas. It operates in Polish economic zone of the Baltic Sea, Norway and Lithuania. Lotos Petrobaltic holds licenses for the extraction of minerals from the B3, B4, B6 and B8 field. in addition, the company’s B3 oilfield is now operating, B8 oil field is being developed and the B4 and B6 gas fields are being prepared for development. Lotos Petrobaltic is headquarteed in Gdansk, Poland.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.