Exxon drops shale exploration plans in Poland
June 18 , 2012
Exxon Mobil has announced it will not go ahead with its shale gas exploration projects in Poland due to its test wells failing to produce commercial quantities of gas.
Polish daily Gazeta Wyborcza quoted a spokesman for the U.S. company’s Polish arm as saying Exxon made the decision after testing two of its wells in the country.
Exxon holds six exploration licenses in Poland.
A government report in March cut estimates of Poland's shale gas reserves to 346 billion to 768 billion cubic meters, equal to about a tenth of previous estimates.