Geologists have staked out areas in the north and east of Poland where there may potentially be shale oil. Estimated volumes of the resource are being analyzed and assessments should be published within two months.

Available maps suggest that the largest deposits are in the areas of Warsaw, Elbląg and Radom, mainly on concession areas belonging to ExxonMobil.

Large quantities of oil could also be found in areas belonging to Polish companies Silurian and PGNiG, American Chevron and Italian ENI.

The Polish Geological Institute (PGI) is conducting the analysis on the potential of these deposits along with experts from the US Geological Survey. The first results will be known by the end of the first quarter, Mirosław Rutkowski of PGI told Dziennik Gazeta Prawna.

Shale oil production is similar to shale gas production and is just as complex and costly. However, given the high price of crude oil and Poland's heavy dependency on Russian oil, experts say it would be a worthwhile investment.

Poland A.M.