Wednesday, June 19, 2019

Shell Sees Significant Oil Discovery in Albania

May 24, 2019

Shell Upstream Albania B.V. said on Friday initial tests showed "a flow potential of several thousand barrels of oil per day" from its Shpirag 4 well in central Albania, and it needed more work to determine its commercial volume.

"We are pleased that these initial tests have confirmed the potential of this discovery and look forward to growing our business in Albania," Marc Gerrits, Shell's Executive Vice-President of Exploration, said.

The Shpirag 4 well west of Berat had confirmed the flow potential of a significant light oil discovery, it added.

More appraisal work was needed to assess commercial volumes in Shpirag, in an equivalent geological setting to the large Val D’Agri and Tempa Rossa fields in Italy, Shell Albania said.

It plans to go ahead with extended production tests on the Shpirag 4 well and more drills to appraise the Shpirag 3 well, while exploring others to test their potential. 

(Reuters, Reporting by Benet Koleka, editing by Louise Heavens)

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