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The discovery in Poland of one of Europe’s most significant conventional oil finds in a decade has been welcomed as a step toward energy security for NATO member Poland. Central European Petroleum (CEP), a Calgary-based company backed by Norwegian investors, announced the find at the Wolin East 1 (WE1) well, four miles from Świnoujście, a Baltic Sea port city in northeastern Poland.
However, not everyone is convinced of its significance. Energy expert Thomas O’Donnell told Newsweek that while it’s notable, “the discovery is not a game changer.” A German think tank has warned that the find could come with substantial costs to tourism and environmental protection.
When contacted by Newsweek, the Polish foreign ministry referred to Foreign Minister Radosław Sikorski’s X post, which read: “God probably really loves the (coalition) government.”
The discovery is significant. CEP stated that once the Wolin East deposit is officially confirmed, it will be Poland’s largest oil and associated natural gas field. With the potential to more than double Poland’s current estimated oil reserves, it will enhance the energy security of a NATO member on the alliance’s eastern flank and diversify its fuel sources.
Preliminary estimates suggest that the site contains 22 million tons of recoverable crude oil and condensate, along with 5 billion cubic meters of commercial-grade natural gas. This makes it the most significant conventional oil discovery in Poland’s history and one of the most significant in Europe in recent years.
While O’Donnell estimated that the site may produce up to 35,000 barrels a day, which is “a fairly good-sized well in Texas,” this would provide only five percent of Poland’s needs. However, the find shows Poland’s commitment to finding indigenous sources of oil and gas.
Poland imports more than it produces, so increased domestic production will help with the country’s balance of payments, reducing inflationary pressures on goods prices. Increased offshore oil production may also prompt concerns about protecting energy assets in the Baltic Sea from sabotage.
The German Institute for Economic Research (DIW) warned that exploiting the discovery could come at a high cost to tourism and environmental protection. DIW researcher Claudia Kemfert stated that “extraction therefore cannot be recommended.”
Rolf G. Skaar, CEO of CEP, said in a statement: “We view this discovery as a foundation for long-term, responsible development of Poland’s offshore resources. Wolin East is more than just a promising field—it represents a shared opportunity to unlock the full geological and energy potential of the Baltic Sea.”
Further geological documentation must be prepared, submitted, and approved before extraction can begin. Piotr Woźniak, former CEO of Polish oil and gas company Polskie Górnictwo Naftowe i Gazownictwo (PGNiG), told Euronews that CEP will need to raise funds quickly and document the deposit to exploit it legally.
However, an environmental challenge from a German organization, Lebensraum Vorpommern, over potential impacts of gas extraction may also arise.
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What is the significance of the oil find announced by Central European Petroleum (CEP) at the Wolin East 1 well in Poland?
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