Albania Invites Bids for Two Onshore Oil Fields

TIRANA, March 16

Albanian and international investors interested in the oil industry and petroleum exploration can now submit bids for two onshore blocks in Albania. The National Agency of Natural Resources (AKBN) announced that Block B and Block E are now available for exploration.
AKBN provides potential applicants with the bid regulations, descriptions of the two blocks on offer, details on the bidding process, required qualifications, and other information that the bidders must submit with their applications.

Block B area is located on the Adriatic coastline and consists of 776 square kilometers.
“The vast majority of Block B is relatively flat with a central hilly area having elevations up to 200 meters. A major highway (SH2) connects Tirana to Durres, is in the southern portion of the block,” the bid document says.
Moreover, Block E is a landlocked area that consists of 700 square kilometers. According to the description, the vast majority of Block E is hilly to a mountainous area having elevations that vary from 100 to 1,000 meters, however, most peaks do not exceed 500 meters. A major highway (SH3) connects Tirana to Elbasan and crosses the block from the NW to SE corner.

In the meantime, AKBN says that before submitting a bid, bidders should familiarize themselves with Albania’s regulatory regime for the allocation, management, and regulation of rights to explore and produce petroleum.
All the details about the offers are available Here.

Read more: Invest in Oil and Gas – Why Albania’s Fiscal Regime is Attractive?

Source: AKBN