The largest oil and gas field has been discovered on the continental shelf of Poland

Canada's Central European Petroleum (CEP) has discovered a massive deposit of conventional hydrocarbons in Poland. This was announced by Rolf G. Skaar, the head of the company, who revealed the results of the drilling of the Wolin East-1 (WE-1) exploration well in the Baltic Sea.

Before drilling operations began, the recoverable reserves were estimated to be:

After testing the well, it was confirmed that there were:

"One of the largest oil fields in Poland, Barnówko - Mostno Buszewo (BMB), holds 400-500 million barrels of oil, with an extraction rate of approximately 25%. This corresponds to a recoverable amount of 100 million barrels. In our case, we are discussing a deposit that is similar in size, if not greater, than the BMB. If we start production, it will double or triple Poland's current daily oil output, which is significant for the country's energy security. Additionally, we will increase gas production by approximately 20% in the country," said Rolf Gregor Skaar, CEO of Central European Petroleum Ltd.

The total reserves in the Wolin subsurface area could exceed 22 million tons of oil and 27 billion cubic meters of natural gas. This is one of the largest discoveries in Europe in the past decade.

CEP is now looking for partners to begin production and is willing to transfer 100% ownership of the field. Initially, CEP had planned to involve PGNiG in the project, but due to the merger with Orlen and other priorities for Polish companies, the negotiation process has been paused.

www.cepetro.com