Chevron Corp. (CVX - Analyst Report) – the second-biggest U.S. oil company – gained an exploration license in Poland to search for natural gas in the country’s southeastern region, in the vicinity of the city of Zamosc.Covering an area of 800 square kilometers, the 5-year concession will allow Chevron’s subsidiary in Poland (Chevron Polska Exploration & Production) to carry out seismic study and exploratory drilling up to 3,500 meters underground, as well as to search for shale gas deposits (which is stored deep in underground rock structures). As per Poland’s environment ministry, the integrated major is only expected to evaluate the complexity of accessing the gas, but not to extract it. Financial details of the agreement were not available.
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