Central European Petroleum (CEP) has announced a major breakthrough with the discovery of Poland’s largest conventional oil deposit in ten years, located off the Baltic Sea coast near Świnoujście, according to a correspondent from Kazinform News Agency.
The Wolin East 1 (WE1) well is estimated to hold approximately 22 million tonnes of crude oil and condensate, alongside 5 billion cubic metres of natural gas. CEP further estimates that the entire concession area, spanning 593 square kilometres, could contain more than 33 million tonnes of oil and 27 billion cubic metres of natural gas.
“This is a historic moment for both Central European Petroleum and the Polish energy sector,” said CEP CEO Rolf G. Skaar. “Wolin East is more than just a promising deposit — it represents a shared opportunity to unlock the full geological and energy potential of the Baltic Sea.”
The well was drilled using a jack-up platform in relatively shallow waters of 9.5 metres and reached a vertical depth of 2,715 metres. If the findings are confirmed, this discovery would more than double Poland’s existing oil reserves, which stood at roughly 20.2 million tonnes in 2023. It also ranks as one of the most significant oil discoveries in Europe over the past decade.
Krzysztof Galos, Undersecretary of State and Chief National Geologist, described the find as a potential breakthrough in Poland’s hydrocarbon exploration history.
CEP’s Polish subsidiary is managing the project, while the parent company, based in Canada, is predominantly owned by Norwegian investors.
The discovery comes amid projections of growing global energy demand through 2050, driven by economic expansion, rising populations, and technological progress, according to OPEC Secretary General Haitham Al Ghais in a statement accompanying the latest World Oil Outlook.
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