Eni has reached an agreement for the acquisition of Minsk Energy Resources and to become operator of three licences in the Polish Baltic Basin, a highly prospective shale gas play, according to the company.
The acreage is located in the north-east of Poland and consists of a prospect area of 1,967 square kilometres. Drilling operations are expected to start in 2011, with a total exploration commitment of six wells.
Eni will operate the licences leveraging knowledge and expertise acquired through its joint venture in the Barnett Shale in Texas, the first shale gas basin in the world to be developed on a large-scale.
Through this agreement Eni makes its entrance into European unconventional gas, in line with the company’s strategy of expanding its position in unconventional resources, a company statement read.
“Poland, which is currently importing almost 70% of its gas requirements, represents the ideal environment for Eni to start its operations in this emerging play which is of great interest to the oil & gas industry as a whole,” the statement added.
