Eni has reached an agreement for the acquisition of Minsk Energy Resources and to become operator of 3 licences in the Polish Baltic Basin, a highly prospective shale gas play.
The acreage is located in the north-east of Poland and consists of 1,967 square kilometres. Drilling operations are expected to start in 2011, with a total exploration commitment of 6 wells.
Eni will operate the licences leveraging the extensive knowledge and expertise acquired through its JV in the Barnett Shale in Texas, the first shale gas basin in the world to be developed on a large-scale.
Through this agreement Eni makes its entrance into European unconventional gas, in line with the company's strategy of expanding its position in unconventional resources.
Poland, which is currently importing almost 70% of its gas requirements, represents the ideal environment for Eni to start its operations in this emerging play which is of great interest to the oil & gas industry as a whole.