Exodus of exploration companies from Poland continues

Map of Europe and Poland
Source: DollarPhotoClub

The exodus of oil and gas companies from Poland continues with the number of exploration licenses falling from 94 to 78 since January this year – the Polish daily “Rzeczpospolita” reports.

The latest company to leave Poland is Canadian International Oil which abandoned its exploration activities in the Swietokrzyskie region in southern Poland in May. The reasons for their decision are not known but it is believed that the they could lie in the low attractiveness of the concession, located outside the main area of ​​shale deposits.

The Canadian company held two licences in the area since spring 2013 and spent the last year analysing archived geological data, but carried out no drilling.

Currently, none of the companies investing in Polish shale are looking for shale gas in the Swientokrzyskie province. Last year Vabush Energy carried out preliminary drilling on the Nida concession but said that the results were disappointing and as a result, decided to abandon further exploration.

Last year, DPV Service also withdrew from their licences in the Starachowice, Opatów and Ostrowiec counties.

Professor Wieslaw Trela ​​from the Świętokrzyskie branch of the Polish Geological Institute explained that the companies must have decided that there are no prospects for further testing and that the deposits in question may no longer be economically viable. He did not, however, rule out the possibility of finding shale gas in ​​the area, saying that the geological structure of the rocks at these depths is as yet poorly known, and would require a lot of investment to be explored successfully.

Canadian International Oil’s decision to abandon exploration added to a string of departures of foreign oil and gas companies from Poland. Earlier this year Total decided to pull out of shale gas exploration in Poland, following similar decisions from Italy’s ENI, ExxonMobil, Marathon Oil, and Talisman Energy.

Major companies still holding concessions for shale exploration in Poland include:

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