PGNiG shale gas exploration spending at PLN 300 mln in 2015

PGNiG natural gas plans to spend PLN 300 million in 2015, according to a PAP report and news from the European Financial Congress in Sopot. The state petroleum and gas company, PGNiG plans to maintain capital and exploration expenses at the same level for the following two years. The annual capex for shale gas exploration is around PLN 300 million. Already conducting vertical drilling, the company should begin horizontal drilling in the near future. The company’s total exploration spending is planned at PLN 900 million.