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Poland to attract $5.6bn in gas exploration investments?


2010-12-09



Poland is poised to become a hotspot for gas drilling in the coming years, with drilling activity expected to increase by two to four times to reach 50-80 exploration wells a year, up from 20-30 at the moment, according to a report by consultancy firm Rystad Energy.

The report notes that 30% of the country’s surface has now been licensed for exploration activity to over 20 companies, including some of the global supermajors. More than 150 “commitment wells” and 220 optional wells have already been agreed, meaning that more than 370 wells could be drilled in the country in the coming years at a combined cost of up to $5.6bn (approx. €4.2bn).

The sharp rise in exploration activity in Poland reflects upbeat assessments of the country’s potential for shale gas development. Rystad Energy estimates Poland’s shale gas reserves at 1 trillion cubic metres, which it says would be enough to assure the country self-sufficiency for 50 years.



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