A Dutch and an Israeli company are granted a concession on oil drillings in Albania

A Dutch and an Israeli company are granted a concession on oil drillings in Albania

Tirana, 1 October 2015/ Independent Balkan News Agency

The Albanian government has chosen a company led by the Royal Dutch Shell Plc, and an exploring company, which is owned by the Israeli group Delek Group Ltd, to conduct oil drillings in the Albanian land territory.

These two companies are soon expected to obtain the contract and then, based on the share of investments and earnings, they will pay 50% of their earnings. But this will only happen once the Factor “R” is achieved, which is the ratio of cumulative invoices from the sale of oil and cumulative expenses.

Exploration of oil reserves on land is expected to increase revenues for the government. The Albanian PM, Edi Rama says that incomes from oil and expectations from a 3,5 to 3,8 billion USD investment in a special economic area near the port of Durres, are expected to create around 30 thousand new jobs. /ibna/