The Albanian National Agency of Natural Resources (AKBN) has named Petromanas Energy, along with its joint venture partner Royal Dutch Shell, as the successful bidder for Block 4 onshore Albania, following an international auction, according to a news release.
Block 4, which spans about 874 sq miles, is located southeast of Petromanas’ current production-sharing contract (PSC) comprising blocks 2 and 3.
The award is conditional and subject to finalizing detailed negotiations with the Ministry of Energy and the AKBN, the release said. The application for Block 4 reflects joint venture interests of 25% for Petromanas and 75% for Royal Dutch Shell, who will serve as operator, according to the release.
Recommended Reading
Adkins: Attacks on Fossil Fuels, Overregulation Poised to Backfire
2024-05-17 - Raymond James’ J. Marshall Adkins tells Hart Energy’s Super DUG conference attendees demonizing oil and gas, strenuous regulations and continued inflation are bound to have unexpected consequences for E&P opponents.
SUPER DUG Shale 4.0 Era about Building Scale- Rystad
2024-05-16 - The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
Kimmeridge’s Mark Viviano on Reshaping the Energy Sector, SilverBow-Crescent Deal
2024-05-16 - Kimmeridge Energy Engagement Partners’ Mark Viviano says the company is evaluating the Crescent Energy and SilverBow Acquisition and how Kimmeridge played a key role in transforming the shale sector in this Hart Energy Exclusive interview.
How Diversified Already Surpassed its 2030 Emissions Goals
2024-04-12 - Through Diversified Energy’s “aggressive” voluntary leak detection and repair program, the company has already hit its 2030 emission goal and is en route to 2040 targets, the company says.