Interview: Poland's natural-gas PGNiG to start shale production after end-2016, Deputy CEO says

By bne IntelliNews April 3, 2014

WARSAW (IntelliNews) -- PGNiG, Poland’s listed natural-gas company, expects to begin production from its domestic shale-gas deposits after the end of 2016, Deputy Chief Executive Zbigniew Skrzypkiewicz told IntelliNews/CapitalIntel.

The company plans to spend PLN 1.9bn (EUR 456m) on exploration and extraction this year, drilling 33 test wells in Poland, of which 10 are shale wells, Skrzypkiewicz said. PGNiG has so far drilled 56 test wells on shale deposits.

The company hopes to start drilling horizontally in 2015, he said.

PGNiG expects to have a full picture of which areas and wells will prove the most productive at the end of 2016 and will then make decisions about further development of its shale deposits, the deputy CEO said.

In March, PGNiG signed an agreement to cooperate with Chevron Polska Energy Resources to jointly explore for shale gas in Poland. The companies will jointly search for gas at two Chevron and two PGNiG concessions in north-east Poland. The cooperation aims to lower costs, spread risk and accelerate exploration work.

by Aleksander Nowacki in Warsaw

Related Articles

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland shrugs off EU bid to toughen rule of law probe

The EU’s General Affairs Council urged Poland on May 16 to talk with the European Commission about its alleged violations of the rule of law, as Brussels continued to hold back from imposing ... more

Moody’s raises outlook on Poland to stable

Moody’s Investor Service affirmed Poland’s sovereign credit rating at 'A2' on May 12, and raised the outlook on the sovereign to stable. The improvement of the outlook comes on the back of ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss