With the acquisition of Minsk Energy Resources, Eni is set to enter the European unconventional gas play in Poland by becoming operator of three licences in the Polish Baltic Basin.
The 1,967-sq-km acreage is located in the northeast of Poland. Drilling operations are expected to start in 2011, with an exploration commitment of six wells.
Through this agreement Eni is making its entrance into European unconventional gas, in line with the company’s strategy of expanding its position in unconventional resources. The company already has experience with shale gas through the Barnett Shale in Texas. It believes that Poland, which imports almost 70% of its gas requirements, is an ideal environment for Eni to start its operations in this emerging play.