Authorities announce the winning companies that will carry out new oil searches in Albania

Authorities announce the winning companies that will carry out new oil searches in Albania

Tirana, 5 August 2015/Independent Balkan News Agency

Ministry of Energy and Industry has selected the companies that win the right of searching for oil in Block “4” and that of Dumre.

After deliberating the official offers submitted by the National Agency for Natural Resources for Block 4, Shell and Petromanas were announced the winning companies. As far as the Dumre block is concerned, the selected company is Navitas from Israel.

The evaluation and the announcement of the winners has been made based on the program of investment submitted by the applicants, but also the history of the companies and the objective of diversifying investors.

The multinational company, Shell, is one of the seven biggest companies in the world drilling for oil and gas with operations in 90 countries of the world, including Albania, where currently, it’s in the process of drilling along with Petromanas in the area of Shpirag, in Berat.

Meanwhile, Navitas, part of Delek Group, listed in the Tel Aviv Stock Exchange, has a market value of more than 5 billion USD and an activity based in the Eastern Mediterranean.

Ministry of Energy has authorities the National Agency for Natural Resources to launch talks with the companies for the terms and conditions of the Agreement, based on the application submitted by the winning companies.

Sources from this ministry say that in the next two months, they are waiting the finalization of round two in three land blocks: Block C, Block 5 and Block “Panja”. The ministry says that international companies have expressed high interest for these areas too.

Meanwhile, as far as sea blocks are concerned, the official statement issued by the Ministry of Energy, says that the tender process is postponed for another date, “due to the consolidation of seismic data”.

As far as the hottest area of the oil research process is concerned, “Ionian 5”, the Albanian government says that without reaching an agreement with the Greek government, there cannot be searches in that sea area. /ibna/