The concession is valid for up to five years and covers a work programme which includes geological studies, seismic acquisition and a single well drilling obligation. The concession also has an optional 3D seismic survey and an additional well.
The company said that the potential of the Nida trough is on trend with the Plawowice (22MMBO) and Grobla (4.5MMBO) oil fields. The addition of this concession increases the number of San Leon’s licences in Poland to five, as the company continues to extend its exposure to conventional targets in underexplored areas.
In order to support its development strategy, San Leon has opened an exploration office in Warsaw, Poland, to provide technical and operational expertise for the Polish assets and also to analyse and interpret data from San Leon’s international projects.
The team is headed by VP of exploration, John Buggenhagen. The team is also supported by Polish country manager, Witold Weil, former VP of exploration and production for the Polish Oil and Gas Company (PGNiG).
Oisín Fanning, chairman of San Leon, said: “We are pleased to have been awarded the Nida Concession which we believe provides access to a proven fairway of underexplored conventional oil potential. Our ability to access seismic evaluation will enable us to determine the potential of this play.”
