Poland has confirmed the largest oil and gas discovery in its history, located offshore in the Baltic Sea near the port city of Świnoujście, close to the German border.
The discovery was made by Central European Petroleum (CEP), a Canadian company leading exploration in the region. The main well, called Wolin East 1 (WE1), contains 22 million tonnes of oil and 5 billion cubic meters of natural gas. The total reserves in the broader concession area are estimated at over 33 million tonnes of oil and 27 billion cubic meters of gas.
This is the biggest hydrocarbon discovery ever made in Poland and one of the largest in Europe in the past decade. The reserves could double Poland’s current oil production and increase domestic gas output by about 20%.
The site is located near the Świnoujście LNG terminal, which will help with storage and transportation. CEP plans to start full development after completing geological surveys and receiving government approvals. The company is also looking for partners to help develop the field.
At present, Poland imports about 95% of its crude oil and a large share of its natural gas. This discovery is expected to reduce the country’s dependence on foreign energy supplies.
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