The Canadian company “Central European Petroleum“ announced that it has discovered a large field off the Polish Baltic coast, DPA reported, quoted by BTA.
According to the results of test drilling, the reserves of crude oil and natural gas there are estimated at 200 million barrels of oil equivalent, the company announced. It said that the offshore oil field “Volyn Iztok“ is located about 6 km from the port city of Świnoujście, in the far north-west of Poland, on the border with Germany.
The company said the field is estimated to be the “largest conventional hydrocarbon field“ ever discovered in Poland, and is “one of the largest conventional oil discoveries in Europe in the last decade“.
If the field is confirmed, it “could be one of the biggest breakthrough moments in the history of hydrocarbon exploration in Poland“, said the country's chief national geologist, Krzysztof Galos.
“If this discovery is finally confirmed, the “Volyn East“ field could become the largest oil and associated natural gas field ever discovered in Poland,“ Galos added. "The future development of this field could significantly contribute to strengthening Poland's energy security and reducing its dependence on external suppliers of hydrocarbons," he said.
Production could start in three to four years. The field could cover 4-5% of Poland's annual oil demand for several years, Galos said.
The Canadian company that carried out the drilling has held an exploration license off the western Polish coast since 2017.