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E & P News

2017

Jan 2017: Albpetrol has reclaimed from GBC Oil the Gorisht-Kocul and the Cakran-Mollaj oil fields after it failed to meet its commitments. Albpetrol plan to start reviving the wells. GBCs operations at its third oilfield, Ballsh-Hekal, is not affected.

2016

Jan 2016: Bankers achieved a production average of 19,384 bbls of oil per day from the Patos-Marinza oilfield in 2015, down from 20,687 bbls per day in 2014. Due to flooding and low oil prices the company continues to evaluate shut-in of marginal producers. In 2015 it drilled 61 horizontal wells and is electing to delay further drilling activity until prices improve.

2015

Aug 2015: The Ministry of Energy & Industry said that the bid round deadline is in October for onshore blocks Panaja, C and 5 and is currently negotiating offers for Blocks 4 and Dumre.

Aug 2015: Shell (operator, 75%) and Petromanas (25%) are the successful bidders for Block 4, southeast of their current PSC, Block 2-3, and on trend with the Shpirag and Molisht discoveries.

May 2015: Albania will offer companies 7 offshore and onshore blocks in a bidding process. The onshore areas are Blocks 4 and 5 in the south and southeast, Dumre, Panaja and C block. The offshore are are Blocks Ionian 5 and Rodoni.

Mar 2015: Albania wants to try again to privatise its state oil company, Albpetrol, and will begin offering blocks for exploration. Shell and Petromanas are currently drilling a well in the Adriatic Sea across the border from Italy's offshore Val d'Agri field.

Jan 2015: Bankers achieved 14% growth in output in 2014 with average production from the Patos-Marinza oilfield of 20,687 bbls per day compared to 2013's production of 18,169 bbls per day. Bankers also drilled a record total of 160 horizontal wells in 2014 including the first horizontal well in the Kucova field.

2014

Oct 2014: Petromanas (operator, 25%) with Shell (75%) has  secured a heavy drilling rig for its 2015/16 drilling program. It will release its current rig when drilling at the Molisht-1 well ends . The joint venture intends to use the new rig to drill its third and fourth wells on Blocks 2-3 which will be appraisal wells to the Shpirag discovery.

Apr 2014: Average production from the Patos-Marinza oilfield for the first quarter of 2014 was 19,911 bbls of oil per day, 3.2% higher than the fourth quarter of 2013. Thirty four wells were drilled in the main area of the field, all but two horizontal.

Feb 2014: Stream reports that the first Delvina horizontal gas development well is expected to spud in March 2014 and the existing Delvina D12 and D4 gas wells will soon be brought on line. Stream re-opened the Delvina D12 well in mid-2013 but failed to achieve production at that time.

Jan 2014: Production from the Patos-Marinza oilfield for the fourth quarter of 2013 was 19,303 bbls per day. Average production for 2013 was 18,169 bbls per day, 21% higher than 2012. The number of development wells, mostly horizontal, drilled in 2013 was 146. A sixth rig is due to begin drilling in 2014 and continued expansion of water flood and polymer floods are planned.

2013

Oct 2013: Petromanas (operator, 25%) and Shell (75%) have announced 3-day test results from the Shpirag-2 well in Block 2-3 in south-central Albania. The well flowed at rates of up to 1,300 bbls per day of light oil along with gas from an 800m thick fractured carbonate reservoir. An appraisal well is planned after completion of the Molisht-1 exploration well.

Jun 2013: Shell has paid Petromanas US$22 mm for another 25% interest in Blocks 2-3, raising its stake to 75%. There are 9 existing oilfields within Blocks 2-3, including Patos-Marinza. The partners intend to drill 3 wells and run a seismic programme on the acreage.

Jun 2013: Petromanas will relinquish its Block A-B PSC after drilling Juban 1 which cost US$6.5 mm. The company holds another Albanian PSC for block D-E as well as a 50% share of blocks 2-3.

2012

Oct 2012: Third quarter 2012 production from the Patos Marinze oilfield was 15,616 bbls per day, 10% higher than the second quarter. Thirty five wells were drilled during the third quarter of which 32 were horizontal production wells, with 26 placed on production, at an average of 105 bbls per day. Operations are continuing to control water influx and find locations for expansion of secondary and tertiary development programs.

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