emirates7 - Canadian firm Central European Petroleum (CEP) announced on Monday a significant oil discovery off Poland’s Baltic Sea coast.
Based on test drilling results, the company estimates that the Wolin East offshore field holds around 200 million barrels of recoverable oil and gas.
Situated approximately 6 kilometers from the port city of Świnoujście, near Poland’s northwestern border with Germany, the Wolin East site is described by CEP as the largest conventional hydrocarbon find in Poland’s history and among the most substantial conventional oil discoveries in Europe over the past ten years.
CEP expects extraction to begin within three to four years. Once operational, the field could supply 4 to 5 percent of Poland’s annual oil needs for several years.
Based on test drilling results, the company estimates that the Wolin East offshore field holds around 200 million barrels of recoverable oil and gas.
Situated approximately 6 kilometers from the port city of Świnoujście, near Poland’s northwestern border with Germany, the Wolin East site is described by CEP as the largest conventional hydrocarbon find in Poland’s history and among the most substantial conventional oil discoveries in Europe over the past ten years.
CEP expects extraction to begin within three to four years. Once operational, the field could supply 4 to 5 percent of Poland’s annual oil needs for several years.