All interested companies in bidding for oil and gas exploration in Blocks C, 5 and Panaja Block in Vlore County will have to submit their application before October 15th, 2015. The deadline announced by the National Agency of Natural Resources which is currently compiling the Agreement of Hydrocarbons. The competent institution of the signing of contracts with winning companies is the Ministry of Energy and Industry, according to NANR.
In addition, NANR will soon open the procedures for the beginning of discussions and negotiations with winning companies for the exploration of Block 4 and Dumre Block, regarding the agreement’s terms and conditions. On July, the NANR announced the winning applicants for Block 4 and Dumre Block were “Shell&Petromanas” and “Navitas” Israeli company.
According to the National Agency of Natural Resources, the winning applicants were chosen based on the investment program and company’s historic. These criteria are set with the aim to diversify the type of investors and companies which participate in this project.
News source: ATA
Photo credits: John Hill (Wikimedia)
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