US-Polish Assessement Of Poland's Shale Gas Potential Delayed
05 October 2011 - 12:49AM
Dow Jones News
Publication of a joint U.S.-Poland report assessing the central
European country's shale gas potential using U.S. Geological Survey
methodology and Polish Geological Institute data has been delayed
by at least one or two months, the Polish specialist leading the
project told Dow Jones Newswires Tuesday.
The report was expected to have been ready in September.
"Writing the report will likely take another month or two," said
Pawel Poprawa, head of the Petroleum Geology Laboratory at the
Polish Geological Institute. "We have to complete one more working
session with the U.S. Geological Survey."
Supportive government policies have prompted companies such as
Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), ConocoPhilips (COP),
Talisman Energy Inc. (TLM), Marathon Oil Corp. (MRO), and Nexen
Corp. (NYX), as well as Polish government-controlled PKN Orlen SA
(PKN.WA) and PGNiG SA (PGN.WA), to buy licenses to explore for the
resource in Poland.
"The report will contain estimates of shale gas reserves in
Poland, conducted using USGS methodology, as well as a description
of the methodology, assumptions and data used," Poprawa said. "The
preparation of archival data, [which] isn't always compatible with
western standards, is taking longer than we expected."
Poprawa added he didn't know when the report would be presented
to the public.
Outside the U.S., Poland is one of the first countries where
companies are making a serious effort to develop shale gas, which
Polish Prime Minister Donald Tusk has called the country's "great
chance," as it could loosen the central European country's
dependence on Russia for its gas, create tens of thousands of jobs,
and fill state coffers.
Current preliminary estimates put Poland's shale gas reserves at
5.3 trillion cubic meters, equal to more than 300 years of the
country's annual gas consumption.
-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431;
marynia.kruk@dowjones.com
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