EU country uncovers huge 22m tonnes of oil worth £8bn

The discovery of oil in a European country could reduce its dependence on Russia. Central European Petroleum (CEP) has discovered 22 million tonnes of recoverable crude oil and condensate in the Polish port city winoujcie on the Baltic Sea.

The find, combined with the discovery of 5 billion cubic metres of commercial-grade natural gas could have enormous benefits for the country as it attempts to wean itself off of Russian energy. The oil was found just six kilometres from the coast and was announced by the company in a statement on Monday. CEP CEO Rolf G. Skaar said: "This is a historic moment for both Central European Petroleum and the Polish energy sector.

"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 noted that Poland's largest current reserves hold "around 400-500 million barrels of oil, with an estimated recovery of 100 million barrels".

He added: "We're talking about a deposit of the same scale - if not larger."

The discovery of oil more than doubles Poland's current estimated oil reserves, which previously stood at approximately 20.2 million tonnes in 2023, according to Polish public broadcaster TVP.

Prof. Krzysztof Galos, Polish Undersecretary of State and Chief National Geologist believes that the discovery could revolutionise the country's energy independence and reduce its reliance on hydrocarbon supplies from outside the country.

He said: "It 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.

"If this discovery is ultimately confirmed, the Wolin East deposit could become the largest deposit of crude oil and associated natural gas ever discovered in Poland."

Poland currently imports around 95% of its crude with CEP estimating that the discovery could double the country's oil production and increase its gas output by 20%.

Politicians have labelled the discovery as a "huge opportunity" for the country.

Dariusz Joski, MEP of the ruling Civic Coalition, wrote on X: "This is a huge opportunity for the national energy sector."

He added that it could "amount to as much as 20 times Poland's annual production, and the gas reserves are five times that amount."

Foreign Minister Radosaw Sikorski compared the find to several other high profile Polish successes, including Iga witek's Wimbledon victory by posting on X: "Apparently, God really does love our government."