European country discovers one of the largest oil fields in Europe, doubles its reserves by more than 240 million barrels

Despite intentions to ween itself off of Russian fossil fuels since that country invaded Ukraine, the EU continues to import vast quantities of coal, oil and natural gas from the nation three years on. However, the discovery of one of the largest oil and natural gas deposits in the Baltic sea off the coast of Poland could help to provide more energy independence.

Central European Petroleum says that its Wolin East 1 well, near the northwestern city of Świnoujście on the border with Germany, contains an estimated 22 million tons of crude oil and 5 billion cubic meters of natural gas. “This is a historic moment for both Central European Petroleum and the Polish energy sector,” said Rolf G Skaar, the company’s CEO.

“Wolin East is more than just a promising deposit—it is a shared opportunity to unlock the full geological and energy potential of the Baltic Sea,” he added.

240 million barrels will double Poland’s reserves

The discovery at Wolin East 1 represents the one of the largest conventional oil discoveries in Europe in the past decade and the largest ever recorded in Poland. The find could contain as much as 33 million tons of crude, equivalent to 240 million barrels of oil, and perhaps 27 billion cubic meters of natural gas within the 229-square-mile concession based on preliminary estimates.

Poland’s current estimated oil reserves were about 20.2 million tons in 2023, meaning this find would more than double that amount.

If confirmed, this new deposit could be key to strengthening Poland’s energy security and a watershed moment for decreasing the nation’s dependence on foreign fossil fuel supplies.

“The discovery of the Wolin East hydrocarbon deposit... could prove to be a breakthrough in the history of hydrocarbon exploration in Poland, especially in areas still insufficiently explored, such as the Polish Exclusive Economic Zone in the Baltic Sea,” said Prof. Krzysztof Galos, Polish Undersecretary of State and Chief National Geologist speaking to TVP.

The discovery was made using a jack-up drilling platform in relatively shallow waters just over 30 feet deep. The Wolin East 1 well reached a depth of roughly 8,900 feet.

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