Bankers to study Albanian EOR pilot project

By OGJ editors
HOUSTON, Sept. 20 -- Bankers Petroleum Ltd., Calgary, reported it will begin a study for a thermal enhanced oil recovery (EOR) pilot project in Albania's Patos Marinza field.

A specialized EOR team has initiated the evaluation, economic analysis, and modeling of a thermal pilot project for the southern part of the field.

Under the current development plan, the life of Patos Marinza field is estimated at 25 years, which represents a total incremental oil recovery of 5-6%/year of the total field resources of 2 billion bbl of OOIP.

Total field recovery utilizing primary production techniques is thus estimated to be 10-12%, including the previous production by state-owned Albpetrol.

In Albania, the company this year has focused on continuing to build production through the takeover and redevelopment of wells from Albpetrol.

To date, Bankers's activities have increased current production to 4,200 b/d of oil. The company's goal is to reach 10,000-15,000 b/d of oil production in 3-4 years.

While EOR recovery techniques have been shown to have the ability to improve oil recoveries to 20-40%, it is not known at this time what the total potential impact could be on Bankers's Albanian reserves.

The approvals required to proceed with this project are expected prior to yearend.

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