TIRANA (Albania), 20 December (SeeNews)–Italian energy company Eni announced on Friday that it signed a production sharing deal for oil exploration in Albania’s onshore block Dumre with a 100 percent equity stake, following a tender launched by the Albanian National Agency for Natural Resources (AKBN) in September.
The Dumre block covers an area of 587 square kilometres and is situated about 40 kilometres south of the capital Tirana, in a proven hydrocarbon area with good oil prospects, Eni said in a press release after the signing of the Tirana agreement.
The company said its new subsidiary, Eni Albania, would run the Dumre building.
Eni has been present in Albania since the early 1990s, bidding for the Albanian offshore in the first foreign tender and winning two offshore exploration blocks, Adriatiku-2 andAdriatiku-4, the company said, adding that Eni left the country in 1999 after drilling three non-commercial wells.
Albania has 220 million barrels of oil reserves and 5.7 billion cubic meters of natural gas reserves. The Patos-Marinza oilfield is the largest onshore field in continental Europe near the southwestern city of Fier.