Chevron said Saturday it will halt all shale exploration activities in Poland in order to focus its efforts on other prospects.
The company said it “has decided to discontinue shale gas operations in Poland as the opportunities here no longer compete favorably with other opportunities in Chevron’s global portfolio.”
Chevron holds the Frampol, Grabowiec, Krasnik and Zwierzyniec shale blocks that cover a combined 1.1 million acres in southeastern Poland.
Last year, Chevron exited the Zurawlow shale prospect in Poland after facing over a year of protests.
The company had said that despite the difficulties it would hold onto its licenses and permissions to drill in the area.
Although the Polish government was enthusiastic about its domestic shale prospects disappointing well results, regulatory delays and tax rate issues prompted multiple companies to pull out, Upstream said.
France’s Total, Italy’s Eni, Marathon Oil and ExxonMobil have all stopped shale exploration activities in Poland over the last three years.