Exxon, Talisman Selling Polish Shale Gas Leases
WARSAW--Canadian oil and gas company Talisman Energy Inc. and U.S.-based Exxon Mobil Corp. are in talks with Poland's largest oil firm PKN Orlen SA to sell their Polish shale gas exploration licenses, daily Rzeczpospolita reports Monday, citing unnamed sources.
Foreign and domestic companies are concerned about planned levels of taxation and the involvement of the state once the industry moves to the next phase and starts producing commercial volumes of shale gas in Poland, the daily says.
Exxon decided earlier this year to exit Poland after drilling just two wells, saying it didn't find enough oil or gas to justify additional drilling.
Poland would like to use its shale gas reserves to reduce its reliance on natural gas imported from Russia and build gas-fired power plants to diversify away from coal as the primary source of its electricity. The government has encouraged state-controlled firms, led by gas firm PGNiG SA and PKN Orlen, to carry out exploration drilling, mostly in Poland's north and east.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 15 Offshore Rigs
- ExxonMobil's Reserves Jump 19% On Growth In US Shale, UAE (Feb 09)
- ExxonMobil Hits Baytown Ethane Cracker Milestone (Feb 07)
- ExxonMobil Stock Rout Deepens as Profit Flub Meets S&P 500 Plunge (Feb 05)
Company: Talisman Energy more info
Operates 8 Offshore Rigs
- Strong Upstream Performance from European Majors (Jul 28)
- PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027 (May 10)
- Repsol Significantly Scales Back Upstream Investment (Oct 15)