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PKN ORLEN announces natural gas discovery in Poland

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PKN ORLEN announces natural gas discovery in Poland

Polski Koncern Naftowy ORLEN Spólka Akcyjna, or PKN ORLEN, announced Aug. 9 that it, along with Polskie Górnictwo Naftowe i Gazownictwo SA, or PGNiG, had discovered a new gas deposit in Wielkopolska, located in west-central Poland, with natural gas production potential of 50 million cubic meters per year.

PKN ORLEN management board President Daniel Obajtek said Wielopolska is one of the "most promising" areas of Poland for natural gas exploration.

The discovery was made at the Chwalecin-1K well on the site of the Plotki joint project, which the two companies are developing. Drilling started at the end of April.

The two companies are preparing to develop the Miloslaw discovery uncovered in May 2017, with production commencing toward the beginning of the third quarter of 2019.

PGNiG is the operator of of the Plotki project, holding a 51% stake, while ORLEN Upstream holds a 49% stake.