11 minutes agoOil research in Albania, Block 5 on land for oil research comes up in expressions of interest
Periskopi(4 years ago)
(4 years ago)The National Nature Resources Agency has raised interest on the part of potential investors Block 5 on land for oil research. This is not the first time this bloc comes out to expect applications from interested parties and in the past, even though there has been interest in the first stages [...]
Reference to the length of the search period is up to 5 years and can be extended up to 7 years in line with “
The search period is divided into phases, with labour obligations and relevant financial commitments for each. The contractor cannot follow the following phase without performing the duties of respective jobs or financial commitments. The duration of each phase of the Investigative Period is subject to negotiations” said in documents.
Block 5 is located southeast of Albania, from Saranda to southern Vlora in the north. The western border corresponds to the coast of the Ionian Sea in the south, and to the Adriatic Sea north.
Earlier, the UN expressed interest in two other blocks like that C and Panaja. The UN has made it known that for these Blocks there has been interest in the first phase by two Eni Albania B.V. companies. and Energy Development Group.
Companies have withdrawn the package with preliminary data to later see the possibility of submitting possible applications and the only one presenting one in early August is Energy Development Group.
Currently, the application assessment projector is under way, and the US has passed its lack of appreciation link, already leaving it in the hands of the Ministry of Infrastructure and Energy to decide the process's performance and whether there will be negotiations.
