Poland sitting on ‘shale oil’ deposits?

photo - smc

The largest deposits, released as petroleum-like liquids when the rock is heated in the chemical process are located in the vicinities of three cities, Warsaw, Radom and Elblag.

The news, which comes in the wake of drilling for shale gas last year, has been greeted with cautious enthusiasm in Poland, which is striving to become more independent in the energy sector.

“We hope that these studies are confirmed in the course of further work, thus enabling us to extract oil from shale in the future,” said Joanna Zakrzewska, a spokesperson for Polish energy giant PGNiG, in an interview with the Dziennik Gazeta Prawna daily.

Estimates regarding the extent of the resources are due to be announced in March.

Although the extraction of shale oil is difficult and costly, it remains profitable owing to the superior quality of the product, and the general high price of oil on today's market.

Several international companies already have concessions in the regions highlighted in the initial report. In this regard, U.S.-based corporation Exxon Mobil is best poised to take advantage of the finds.

Meanwhile, American multinational Chevron is struggling to convince villagers in Zurawlow, south east Poland, that drilling for shale gas in the area will not have a negative impact on the region.

Over 500 people have already signed a petition against the company's plans.

Chevron had previously tried to look for shale gas in the vicinity of the nearby village of Rogow, but once again, locals blocked the project.

A last ditch meeting, closed to the press, is being organised in conjunction with local authorities in Zurawlow, at which Chevron will attempt to argue its case. (nh/pg)

Source: IAR