ŚWINOUJŚCIE: Canadian energy company Central European Petroleum (CEP) has announced a significant oil and gas discovery off the Polish Baltic coast, which could become one of Europe’s largest hydrocarbon finds in a decade.
The discovery was confirmed following successful test drilling at the Wolin East offshore oil field, located approximately six kilometres from the port city of Świnoujście, near Poland’s border with Germany. CEP reported that the estimated recoverable reserves total around 200 million barrels of oil equivalent, including both crude oil and natural gas.
According to the company, the Wolin East field is projected to be “the largest conventional hydrocarbon field” ever found in Poland. It is also one of the most substantial conventional oil discoveries in Europe over the last ten years.
The discovery holds strategic value for Poland’s energy sector, potentially covering between 4% to 5% of the country’s annual oil demand for several years. CEP stated that commercial extraction could commence within the next three to four years, pending regulatory approvals and infrastructure development.
This discovery comes at a time when Europe is intensifying efforts to diversify its energy sources and reduce reliance on imports. The Wolin East project could not only enhance Poland’s energy security but also support broader European supply resilience.
Local officials have expressed optimism about the potential economic and employment benefits of the project for the West Pomeranian region. Environmental assessments and further feasibility studies are expected to begin soon as the development phase moves forward.
CEP’s investment is seen as a major milestone in unlocking the hydrocarbon potential of the Baltic region and reinforcing Canada’s footprint in European energy markets.
