Albania

Albania’s National Agency for Natural Resources has accepted terms of an exploration agreement with Bankers Petroleum Ltd., Calgary, covering Block F west of Patos Marinza heavy oil field in Albania.

Dec 4th, 2009

By OGJ editors
HOUSTON, Dec. 4
– Albania’s National Agency for Natural Resources has accepted terms of an exploration agreement with Bankers Petroleum Ltd., Calgary, covering Block F west of Patos Marinza heavy oil field in Albania.

The parties will begin negotiating a production sharing agreement immediately with an objective to submit a final draft PSA by January 2010 for necessary approvals by the Albanian government.

Block F covers 185,000 acres. Three gas fields operated by state Albpetrol are excluded from the block. The area contains several seismically defined structural and amplitude anomalies prospective for oil and natural gas, Bankers Petroleum said.

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