ExxonMobil said it is ending its exploration for shale gas in Poland after finding insufficient amounts of gas in two exploratory wells in the country's east.
The move is the latest blow for Polish hopes to find massive
shale gas reserves that would help ease the country’s dependence on
Russian energy sources.
An ExxonMobil statement made available June 17 to The Associated Press said it was ending its search because
“there have been no demonstrated sustained commercial hydrocarbon flow
rates.”
The company said nothing about the future of the six licenses it has in Poland.
Economy
Minister Waldemar Pawlak said he received the decision “with
understanding,” because ExxonMobil has “big interests being pursued in
Russia.”
He said the U.S. company should either give up its
licenses, or sell them to another firm. ExxonMobil acquired six licenses
in central and eastern Poland in 2009 and 2010, on the spur of great
success companies had in shale gas exploration in the U.S., in
comparable geological conditions.
Pawlak noted that other major
companies continue their exploration for unconventional gas, including
another U.S. firm, Chevron, and Poland’s gas and oil giant, PGNiG.
Some
two dozen global energy companies are searching for shale gas across
Poland. The country’s energy hopes were also hit this year when a
geological study estimated recoverable reserves at no more than some 768
billion cubic meters, much less than originally hoped.
