Poland's drive to exploit shale gas has come to an end with state-run gas firm PGNiG and oil refiner PKN Orlen drawing a line under projects to find it.
The country's quest to explore for shale gas began five years ago, when the then prime minister Donald Tusk raised hopes with a forecast of it coming on stream in 2014.
This attracted global energy majors, including Chevron Corp. (NYSE: CVX), ExxonMobil (NYSE: XOM) and Total SA (NYSE: TOT), but one by one they pulled back after disappointing results and a slump in oil prices.
Polish state-run firms, including PGNiG and PKN Orlen were the last ones to work on the country's shale gas projects.
"The discussion and projects related to shale gas is a closed issue for us," Miroslaw Kochalski, deputy head of PKN Orlen told a news conference on Oct. 12.
This was echoed by Piotr Wozniak, CEO at PGNiG, who said:
"Shale gas has ended not that badly when it comes to the improved techniques of unconventional gas exploration. Shale gas as such has failed indeed."
Recommended Reading
Drilling Tech Rides a Wave
2024-01-30 - Can new designs, automation and aerospace inspiration boost drilling results?
Tech Trends: Autonomous Drone Aims to Disrupt Subsea Inspection
2024-01-30 - The partners in the project are working to usher in a new era of inspection efficiencies.
TGS, SLB to Conduct Engagement Phase 5 in GoM
2024-02-05 - TGS and SLB’s seventh program within the joint venture involves the acquisition of 157 Outer Continental Shelf blocks.
2023-2025 Subsea Tieback Round-Up
2024-02-06 - Here's a look at subsea tieback projects across the globe. The first in a two-part series, this report highlights some of the subsea tiebacks scheduled to be online by 2025.
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
2024-02-07 - The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.