PGNiG's shale project fails
20:36
Polish state-controlled natural oil and gas company PGNiG failed to achieve satisfactory gas flow in its latest shale gas test in Wysino.
"The maximum flow achieved barely exceeded 2 m3 per minute, which might mean PGNiG will give up on the shale project. To date, shale seems to be unproductive in our conditions," said PGNiG CEO Piotr Wozniak.
Natural gas is actually present in the shale as shown by analysis of rock samples, "but we failed to extract it, despite greatly executed fracking," the CEO added.
"PGNiG will likely give up on the shale project," Wozniak admitted, stressing though that no decisions have been made yet. A decision is expected by end-year.
PGNiG has been listed on the Warsaw Stock Exchange since 2005.
