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Digging deeper may increase gas stocks ten-fold

The chance of finding new deposits is increasing as expenditures on searching and exploiting existing deposits continue to rise, a Polish expert said.

Deposits of natural gas in Poland amount to about 98 billion cubic meters but, “I estimate that gas deposits amount to about 0.8-1.2 trillion cubic meters. Some assess it at even 3 trillion,” said professor Stanisław Rychlicki, chairman of the Polish Oil and Gas (PGNiG) supervisory board.

The chance of finding new deposits is increasing as expenditures on searching and exploiting existing deposits continue to rise. The annual budget for searching for deposits will amount to about 600 million zlotys, but any benefits will not become apparent for 3-5 years.

“Despite numerous barriers, I hope that exploitation of gas will exceed 5 billion cubic meters in 4-6 years time to reach the level of 6 billion in 2015. Growth in extraction will be due to the Lubiatów-Międzychód-Grotów deposit,” said prof. Rychlicki. So far, PGNiG was searching for gas at 2,500-3,000 meters, but now it will search at 5000-5,500 meters. (Warsaw Business Journal)