8.5 Joint operations

• its assets, including its share of any assets held jointly,
• its liabilities, including its share of any liabilities incurred jointly,
• its revenue from the sale of its share of the output arising from the joint operation;
• its share of the revenue from the sale of the output by the joint operation; and
• its expenses, including its share of any expenses incurred jointly.

The Group is involved in joint operations mainly in Poland, and also in Norway and Pakistan. They consist mainly in exploration for and production of natural gas and crude oil, except for operations conducted in south-eastern Poland, where they involve an initial stage of exploration for unconventional deposits of gas.

As at the end of the reporting period, the Group was involved in joint operations, within the meaning of IFRS 11, as part of projects carried out in Norway in the PL 127C, PL146, PL146B, PL333, PL460, PL941, PL1009, PL1009B, PL1013, PL1013B, PL1055, PL1055B, PL1088 and PL1111 licence areas.

As at December 31st 2021, the Group also held interests in other licences on the Norwegian Continental Shelf, covering, among others, the Ormen Lange, Skarv, Gina Krog, Morvin, Vilje, Vale, Marul, Alve, Tommeliten Alpha and Duva fields. Considering the IFRS 11 criteria, the Group’s operations in the above fields do not represent joint arrangements as defined in the standard and the Group does not have joint control of the operations as there is more than one combination of parties that can agree to make significant decisions. Therefore, for the purpose of correct recognition and measurement of transactions related to the operations in those fields, the Group applies other relevant IFRSs taking into account its interest in the fields, which ensures that there are no material differences in the accounting recognition and measurement of transactions related to these operations and the manner of recognising operations which are carried out jointly with holders of interests in the licences that meet the definition of joint operations within the meaning of IFRS 11.