Central European Petroleum Company (CEP) announced the discovery of Poland's largest regular oil field and one of the most important mines in Europe for a decade, located off the Baltic coast of this Central European country.
The breakthrough was made at the Wolin East 1 well of the Central European Petroleum Company, about 6 km from the port city of Swinoujscie in northwestern Poland.
Preliminary figures show that Wolin East 1 contains 22 million tons of exploitable crude oil, along with 5 billion cubic meters of commercial gas.
The franchise area is larger, spanning 593 km2, estimated to contain more than 33 million tons of oil, as well as 27 billion m3 of gas.
According to Polish public broadcaster TVP, this figure is more than double Poland's current estimated oil reserves, which will reach about 20.2 million tons in 2023.
If confirmed, the discovery would be classified as Poland's largest regular hydrocarbone mine and one of the largest in Europe in the past 10 years, according to Polish media.
Wolin East 1 well is drilled with a self- lifting drill rig in water 9.5 m deep and has a total vertical depth of 2,715 m.
"This is a historic moment for both the Central European Oil and Gas Company and the Polish energy industry. Wolin East is not only a promising mine but also a common opportunity to exploit the full geological and energy potential of the Baltic Sea" - CEO of CPE Rolf G Skaar shared.
The discovery could play a key role in reducing Poland's dependence on imported fossil fuels, especially as the country looks to strengthen its energy autonomy.
The discovery of the Wolin East hydrocarbon mine could be a breakthrough in the history of hydrocarbon exploration in Poland, especially in areas that have not been fully exploited, such as the Polish economic zone in the Baltic Sea. If this discovery is confirmed, the Wolin East mine could become the largest crude oil and accompanying gas field ever discovered in Poland, said Mr. Krzysztof Galos, Deputy Foreign Minister and Head of the Polish National Geological Commission.
CEP Central European Petroleum, a subsidiary of Trung Duoc Petroleum Company in Poland, is overseeing the project. The parent company, which is headquartered in Canada and is majority-owned by Norwegian investors, was initially set up to explore hydrocarbures in the European Union, with initial operations in Germany.
