December 23, 2025 [Orlen]- ORLEN has signed an agreement with Synthos to acquire full ownership of S54, the company developing a new butadiene extraction unit. Once completed, the unit will become an integral part of ORLEN’s Production Plant in Płock, allowing the Group to preserve an extended petrochemical value chain. The transaction, valued at approximately PLN 692 million, together with a package of accompanying agreements, also puts the existing relationship between the parties on a sound footing and lays the groundwork for further cooperation on transparent, mutually beneficial terms.

“We’ve been systematically addressing legacy issues and reconfiguring projects that failed to adequately safeguard ORLEN’s interests. Our efforts also covered the Olefins III project and the associated investment in a new butadiene unit. The deal we’ve agreed with Synthos brings this chapter to a close. We’re regaining full control over the unit, which is at the very core of the entire project. To achieve this, we developed a solution that meets the expectations of both parties and lays a solid foundation for our further partnership. We’re restoring proper business relations. As a result, the New Chemicals project can move forward in line with our strategic direction,” says Ireneusz Fąfara, CEO and President of the Management Board of ORLEN.

Under the agreement, ORLEN will take full control of S54, which is constructing the butadiene extraction unit at the Production Plant in Płock. The new unit will ultimately become integrated into the site’s petrochemical value chain. It will process the entire C4 output and deliver raffinate for use in downstream petrochemical processes.

At the same time, the parties signed a series of agreements and amendments to existing contracts that comprehensively govern their current legal and commercial relations. These arrangements resulted from a review of the company’s commercial commitments and efforts to rectify earlier investment decisions.

The agreements also cover cooperation between ORLEN and Synthos in the Czech Republic, shortening the duration of the Butadien Kralupy JV as well as the C4, raffinate and butadiene contracts from 2049 to 2038. Additionally, they secure a further two years of ethylene and benzene offtake in the Czech market.

Cooperation between ORLEN and Synthos on the butadiene unit was initiated several years ago, as part of the petrochemical expansion programme in Płock. Under the original model, the project was carved out into a separate company beyond ORLEN’s operational and ownership control.

In December last year, ORLEN’s Management Board decided to discontinue the Olefins III project in its original scope and pursue further development under the New Chemicals initiative, reflecting revised technological, operational and business assumptions. New Chemicals includes the construction of a state-of-the-art monomer production facility and expansion of ORLEN’s sales capacity in ethylene oxide, glycols, styrene and the C4 fraction, with volumes optimised to meet market demand. The agreements that have now been signed strengthen the project’s security and provide ORLEN with greater operational flexibility, while establishing a stable framework for continued business cooperation between the two companies.