Today, we received information about the discovery of a large oil deposit in the Lubusz Voivodeship. Michał Stajniak, a raw materials expert and deputy director of the Analysis Department at XTB, analyzed this information and commented on Orlen’s announcement. As it turns out, these deposits are “a drop in the ocean” of our economy’s needs:
Orlen announced the discovery of new oil deposits in the western part of the country. The discovered oil belongs to the Rzeczyca deposit in the Lubusz Voivodeship. The extraction potential from this deposit could reach as much as 100,000 tons of oil, while the total capacity of the entire complex is estimated at 500,000 tons of oil. But does this really change the game for the company?
Poland’s oil consumption amounts to several tens of millions of tons per year. In daily terms, this translates to about 0.5 million barrels per day, with the vast majority of it coming from imports. Therefore, the size of this import is approximately 67,000 tons per day. From this, it’s clear that this discovery will not change the direction from which oil flows to Polish refineries. Nonetheless, when calculating the value of these deposits at current oil and dollar rates, using simple math, the Rzeczyca deposit is worth around 200 million PLN, excluding the costs associated with extraction or refining. Considering the entire complex, the value of the deposits could exceed 1 billion PLN.
Daily oil production in Poland is approximately 17,000 barrels per day. This is relatively low given the demand, but production has declined in recent years, so new deposits could help improve this situation. According to the company’s press release, if the entire complex proves viable for extraction, it could provide resources for 30 years at current extraction levels. However, from the perspective of annual oil demand, this is merely a drop in the ocean of needs.
Source: [managerplus.pl](https://managerplus.pl/nowe-zloza-ropy-naftowej-w-lubuskiem-kropla-w-morzu-potrzeb-polskiej-gospodarki-27453)
