Eni has reached an agreement for the acquisition of Minsk Energy Resources and to become operator of 3 licenses in the Polish Baltic Basin, a highly prospective shale gas play.
The acreage is located in northeast Poland and consists of approximately 1,222 square miles. Drilling operations are expected to start in 2011, with a total exploration commitment of 6 wells.
Eni will operate the licenses leveraging the extensive knowledge and expertise acquired through its JV 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.
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.
About Eni
Eni operates in the oil and gas, electricity generation and sale, petrochemicals, oilfield services construction and engineering industries. The company is headquartered in Italy and currently operates in over 77 countries worldwide.
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