Poland’s oil refining gaint, PKN Orlen has announced that it is to invest around 200 million zloty (50 million euro) on the search and extraction of shale gas.

PKN Orlen, which is based in Plock, central Poland, is to search for shale gas through one of its dependent companies, Orlen Upstream. The first drilling is set for Q4, 2011.

Meanwhile, the company is also continuing with its efforts to construct a new power plant in the city of Wloclawek. The investment, worth some 1.5 billion zloty, is expected to get under way after a contractor is chosen at the turn of Q3/Q4 this year. (jb)

Source: IAR