New oil discovery in Albania by Shell, Petromanas

9. December, 2013 News 1 comment
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After 17 month drilling period Shell and Petromanas Energy Inc announced that their first drilled well Shpiragu 2 resulted   with flow rates of 1,500 to 2,200 barrels per day of oil equivalent (800 to 1,300 barrels per day of 35 to 37 degree API oil and 2 to 5 mmcfd of gas) observed during the test period. PMI and Shell also believe they have identified an 800 meter oil column in fractured carbonate reservoirs at the Shpiragu structure, but were only able to test 400 metres due to drilling setbacks. The cost of the 5,553 meters  exploration well reached $75 million.

Petromanas is a small Canadian company who was able to attract Dutch Royal Shell as a joint venture partner on Albania’s Blocks 2-3 in February, 2012. In the beginning of partnership Shell owned 50 % of  Block 2-3 and later on 2013  75 % while Petromanas holds the remaining  25 % and operatorship.

This discovery is considered  very important for Albania since it is the greatest Oil discovery in the last 20 years and it is a good quality light oil,  while  Albanian crude is usually heavy and highly sulphurous (6°  to 22° API crude oil).

Petromanas and Shell continue drilling the Molisht-1 prospect to the Southeast of Shpirag-2. The Molisht-1 well was spud August 20, 2013 and is currently at a depth of approximately 1,400 hundred meters on its way to a targeted approximate depth of 5,500 metres. Drilling operations are scheduled to take 9 months from the initial spud (Roughly May 20, 2014), to be followed by testing.

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Sources :

http://www.petromanas.com

http://www.top-channel.tv

http://www.reuters.com

http://www.ceo.ca

Photo :

http://www.petromanas.com

 

About author

Rakip Belishaku

Bsc Petroleum Engineering . President of Polytechnic University of Tirana SPE Student Chapter. YoungPetro ambassador in Albania.

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