Eni ‘looks for Polish shale exit’

ENI 114 January 2014, News Wires – Italy’s Eni is set to deal Poland’s fledgling shale gas industry a further blow by joining other large oil players in pulling out, according to a report.

The major is set to let its three concessions in the north of the country expire, according to a report in Polish newspaper Pulz Biznesu, citing unidentified sources.

Reuters later reported that Eni has already let two of the licences expire, citing confirmation from Poland’s Environment Ministry. The third licence is due to expire in June.

Nobody was immediately available for comment at Eni on Tuesday.

Companies have begun an exodus from Poland amid unclear regulations and mixed well results.

Last year independents Marathon Oil and Talisman Energy followed US supermajor ExxonMobil in quitting the Polish shale arena, which was once seen as Europe’s best shale prospect with substantial reserves and a friendly government.

Poland is trying to make its unconventionals market more attractive with a draft law to regulate the exploration for and extraction of shale gas set for approval.

In December, however, Chevron signed a preliminary deal with Poland’s PGNiG that may lead to the joint exploration for shale gas in the south-east of the country. US giant ConocoPhillips also remains in the Polish shale game.


– Upstream

About the Author