PKN picks up Polish shale gas blocks

Emerging sector: shale gas drilling in Poland

Reuters/Scanpix

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News Wires

 07 December 2012 13:41 GMT

ExxonMobil has agreed to sell two shale gas exploration concessions in Poland to the country's state-owned refiner PKN Orlen for an undisclosed price, according to a report.

The US supermajor dropped its exploration plans in June after test wells failed to produce commercial quantities of gas, dealing a blow to Poland's hopes of becoming a major producer of the unconventional fuel.

The local shale gas industry was eager to know what would happen with the company’s six concessions.

It has to date relinquished three licences and, after the completion of the deal with PKN, will still have to decide on the fate of one.

The licences to be acquired by PKN cover 2150 square kilometres near Wodynie-Lukow in central Poland and will increase its portfolio of shale gas exploration licences…

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