US Chevron to add more shale gas acreage in central Europe

12 March 2013 18:02  [Source: ICIS news]

HOUSTON (ICIS)--Chevron plans to add to its shale gas acreage in central and eastern Europe as its aims to undertake more drilling in Poland and Romania, an executive for the US-based energy major said on Tuesday.

“We accumulated quite an acreage position, with close to 4m acres [1.6m ha] now under contract, and we are negotiating for another approximately 3m acres along the geological trend we see running through central and eastern Europe,” Jay Johnson, head of Chevron’s exploration and production business in Europe and the Middle East, said during a webcast investor event.

“We expect to drill additional wells this year in Poland, as well as Romania,” he added.

Johnson said that eastern and central European countries were very focused on assessing their energy potential, and that Chevron was getting a lot of support from governments.

He added that it was still “early days” for shale gas in Europe, and Chevron was facing a lot of work, as Europe’s pipeline infrastructure and contractor base for shale gas development was weak, compared with the US.

“But we are still encouraged by the progress we are starting to make in these early exploration efforts,” Johnson said.

CEO John Watson added that, as for Chevron’s shale gas activities outside the US, prospects in central Europe were “front and centre” for the company.

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index