WBJ: Energy companies criticize proposed shale gas regulations
The Polish Exploration and Production Industry Organization (OPPPW) has issued a statement that criticizes part of the government's draft hydrocarbon extraction law. The organization claims some of the regulations will increase investment risk.
The OPPPW is questioning proposed rules regarding the granting of extraction licenses, which they see as arbitrary, and the National Energy Resources Operator (NOKE). It also expressed its concern about the fact that the exploration period may be extended only once, and only for two years.
Companies are afraid that the investment risks might exceed potential profits and the new regulations will force them to leave Poland, because exploration will stop being profitable.
“All members of the OPPPW would like to continue carrying out their investments in Poland, but – as proven by ExxonMobil's, Talisman's and Marathon's decisions to withdraw from activity in Poland – they may change their mind,” the statement said.