According to the fresh data from BRE Bank brokers, work on the shale gas extraction in Poland is moving slower than expected. While oil giant Orlen holds deposits worth PLN 5bn, and the energy provider PGNiG PLN 7bn, Poland saw only 39 bore holes drilled so far.
In its 2011 report Poland’s Environment Ministry expected 49 exploration bore holes would start by the end of 2012. “We have noted the American Exxon resigned from its investment in Poland, but on the other hand, we’re also considering the latest deal of PGNiG and 3Legs Resources,” says Kamil Kliszcz of BRE Bank. He expects an upturn in the near-term, after new tax regulations for the sector are implemented.
