Shell Upstream Albania announced on May 24 that the first drilling tests indicated there is substantial oil reserves in the Shpiragu-4 well in Albania, near the town of Berat.
Albania's energy and infrastructure ministry signed an oil exploration agreement with Shell Upstream Albania for Block 4 in the southern mountain of Shpiragu in February 2018, where it plans to invest $42.5mn in a period of seven years. Shell is also engaged in exploration of gas and oil in Block 2 and Block 3 in Albania.
Shpirag 4 is located near the central Albanian town of Berat. Shell became a partner in the project in 2012. The blocks 2,3 and 4 cover an area of 4,084 square metres.
“A few days of well testing was carried out according to expectations, with a potential flow of several thousand barrels of oil per day,” Shell Upstream Albania said in the statement.
The company said that recoverable oil volume from Shpiragu will be further defined through other valuation activities.
“The next step is to carry out a long-term evaluation test at the Shpiragu-4 well, followed by evaluation drilling in the Shpiragu-3 well,” it said.