Under the agreement, the companies will collaborate in appraising shale gas deposits in four exploration license areas in southeastern Poland – two owned by PGNiG (Tomaszów Lubelski and Wiszniów-Tarnoszyn) and two belonging to Chevron (Zwierzyniec and Grabowiec).
The detailed scope and schedule of exploration work will be determined by a Joint Technical Committee appointed by both parties. The joint efforts will include drilling of an exploration well. Pursuant to the agreement, the parties will also exchange geological data on the above-mentioned license areas, as well as experience gathered so far as part of their respective exploration activities.
If the parties move to the second stage of collaboration, their efforts will involve further exploration work in relevant license areas. At all stages of the relationship, PGNiG and Chevron intend to jointly carry out the exploration work, determine its scope, and decide on the financing methods.
The agreement with Chevron is part of PGNiG's new policy of openness towards other companies involved in shale gas exploration projects in Poland. The collaboration will enable the parties to reduce costs, share risks, and increase the pace of the exploration work. As a result, the process of assessing potential shale gas resources in Poland will be completed sooner.