A Canadian energy company has made the biggest oil discovery ever found in Poland. They found a large amount of oil and gas in the Baltic Sea, close to the city of Świnoujście in northwestern Poland.
Central European Petroleum (CEP) announced this discovery at their Wolin East 1 (WE1) well. This well is estimated to hold 22 million tons of usable crude oil and condensate (a light oil), along with 5 billion cubic meters of natural gas ready for commercial use.
Even more, early estimates suggest that the entire Wolin area, which Poland’s Ministry of Climate and Environment approved for drilling, could contain over 33 million tons of oil and condensate and 27 billion cubic meters of gas.
This discovery is considered one of the largest traditional oil finds in Europe over the last ten years, according to the Polish Press Agency.
The WE1 well was drilled using a special platform called a jack-up platform. It was drilled in 9.5 meters of water and went down a total of 2,715 meters.
“This is a historic moment for both Central European Petroleum and Poland’s energy sector,” said Rolf G. Skaar, CEP’s CEO, in a press release. “Wolin East is more than just a promising find—it’s a shared chance to fully explore the geological and energy potential of the Baltic Sea.”
Professor Krzysztof Galos, who is Poland’s Undersecretary of State and Chief National Geologist, stated that this project could be a major turning point for Poland to become more energy independent, meaning they would rely less on other countries for their oil and gas. He also mentioned that developing this site in the future could greatly help strengthen Poland’s energy security.
He added, “The discovery of the Wolin East oil and gas deposit… could prove to be a breakthrough in the history of exploring for oil and gas in Poland, especially in areas that haven’t been explored much yet, like Poland’s special economic zone in the Baltic Sea.”
“If this discovery is fully confirmed, the Wolin East deposit could become the largest deposit of crude oil and its related natural gas ever found in Poland,” Galos emphasized.
The Wolin area covers 593 square kilometers. CEP’s Polish branch, CEP Central European Petroleum, is managing the site.
Investors mostly own the main company, based in Calgary, from Norway. It specializes in finding and producing oil and gas in Central and Eastern Europe.
