Chevron, Polish firm to jointly explore for shale gas

|About: Chevron Corporation (CVX)|By:, SA News Editor

Poland’s PGNiG says it has signed an agreement with Chevron (CVX +0.8%) to jointly search for shale gas in southwestern Poland in a move to speed up exploration.

The companies will jointly assess gas deposits and will exchange geological information to help choose exploration sites; such information is scarce in Poland, due to the small number of exploratory wells.

Dependent on Russian imports, Poland wants to diversify its energy sources and is placing hopes in its reputedly large shale gas deposits.