Polish Prospects to Generate Significant Activity
Norway based consultants Rystad Energy reports that Poland is set to become a drilling hotspot..
In reviewing the 224 exploration concessions awarded in Poland since 1995, Rystad commented that upto 770 potential wells are planned in the upcoming years.
“Thirty percent of Poland’s land surface has now been licensed for exploration activity to more than 20 operators of different size and origin, including international super majors,” said manager of consulting Anders Wittemann.
“The work programs agreed between the operators and the Ministry of Environment add up to more than 150 commitment exploration wells and another 220 optional exploration wells."
The drilling activity levels could reach 50 to 80 exploration wells to be drilled each year, compared to recent years’ activity level of 20 to 30 exploration wells drilled each year, said Rystad in a statement.
“The large amount for work promised to the licensing authority, the Ministry of Environment, is an opportunity for expansion of the oilfield services sector in Poland as more than 370 wells could to be drilled at costs of up $15 million each,” said the company.
Work commitments also include plans for acquisition of around 20 thousand kilometres of new seismic 2D seismic and more than 6 thousand square kilometers of 3D seismic.
Significant potential in shale gas development has seen a boost in Poland’s efforts to push forward with exploration.
Based on information from the Polish Geological Institute, Rystad estimates reserves of around 1 trillion cubic metres- enough to make the country energy self –sufficient for 50 years.
“We have based our estimate of Poland’s shale gas potential on information from the Polish Geological Institute and benchmarked this against our proprietary research on key US shale gas plays,” said analyst manger at Rystad Per Magnus Nysveen.
“Estimates are highly uncertain, but the potential is there."