Albania: Petromanas reenters Berati thrust wildcat

Petromanas Energy Inc., Calgary, has reentered the Shpiragu-1 well on Block 2 in the Berati thrust belt onshore southern Albania and plans to deepen it as Shpiragu-2 to 6,100 m at a cost of $31 million.

Alan Petzet

July 3, 2012

The company’s partner is to pay the first $25 million cost of the deepening, which is to take 150-180 days. Costs are to be shared 50-50 after that.

Occidental Petroleum Corp. drilled Shpiragu-1 to 5,200 m in 2001 and tested light oil and sour gas to surface (OGJ Online, Aug. 23, 2011).

About the Author

Alan Petzet

Chief Editor Exploration

Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.

Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.