Poland boasted of the largest oil and gas discovery near the border with Germany

Poland could have discovered the country's largest oil and gas field. So far, its reserves are enough for a quarter of annual consumption.

"This could be a breakthrough in the Polish energy sector. Central European Petroleum (CEP) has announced the discovery of the largest field of conventional hydrocarbons in the history of Poland. A well drilled in the Baltic Sea, 6 km from Svinoujscie, confirmed the presence of 22 million tons of crude oil and 5 billion cubic meters of commercial natural gas. This is one of the largest discoveries of this type in Europe over the past decade," TVP3 reports with reference to the Canadian company.

The total reserves on the border with Germany may amount to more than 33 million tons of oil and 27 billion cubic meters of gas.

"As the country's chief geologist Krzysztof Galosz emphasizes, this discovery can significantly affect Poland's future energy security by reducing dependence on external suppliers. Before the start of operation, it will be necessary to develop and approve geological documentation," the TV channel reports.

Canadian Central European Petroleum owns the Wolin concession with an area of 593 km2 in northwestern Poland. This area is adjacent to Svinoujscie, where the LNG terminal is located, and the company reported that in the current situation, oil and gas production would be profitable.

Central European Petroleum itself does not report anything about the discovery. It is known that the company with Danish investors rented a self-lifting floating drilling rig from the American Noble and paid at least $ 6 million for drilling one well.

At the same time, the declared commodity reserves of gas are below a quarter of the annual fuel consumption in the country. Last year, demand was estimated at 21.7 billion cubic meters. Polish companies receive most of their gas in the form of American and Qatari LNG and pipeline gas from Norway. Deliveries from Russia stopped in 2022 after PGNiG refused to switch to new payment terms and Warsaw and Moscow exchanged gas sanctions.

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