Speculation on Chevron and Polish Shales

Puls Biznesu reports that Chevron Corp. may be planning a departure from shale gas exploration in Poland.

According to the Polish business paper, Chevron will decide by end of 2012 whether to exit Poland. The company is said to be discouraged by drilling results,  uncertainty of the regulatory regime in Poland and lack of cooperation with the Polish government.

Chevron, which hold four shale gas concessions obtained by a subsidiary in 2009 and 2010, has reportedly already discontinued works at Frampol-1 drilling site in Andrzejow, 60 kms south of Lublin in eastern Poland, which was reportedly only spudded in March.

Chevron initiated its first drilling of shale gas in Poland in Horodysko hamlet, near Lesniowice, on the Grabowiec concessions in Lubelskie in November 2011.

The multinational holds two additional concessions, Krasnik and Zwierzyniec, also situated in Lubelskie.  The company was authorized for the completion of five wells.
Chevron officials dismissed the paper’s speculations.

Chevron remains fully engaged in the research program in Poland and will continue to search for natural gas from shale in their concession areas - said spokesperson Grazyna Bukowska.

Original Article in Polish HERE