The recent explorations for hydrocarbons in the western Greece, at the seafront of Adriatic, contains a huge potential to transform companies that invest in this sector from small oil businesses into businesses of a high importance. Experts say that a part of the Mediterranean region (in southwest Greece, in Albania, Montenegro and Croatia) is becoming as the new oil front in Mediterranean Basin. As this fact in attracting many powerful investors, Albania is considered as “the house of the biggest offshore oil field” and is now on its way to become the biggest producer or oil and gas.
“Bankers Petroleum” is the most important company in this sector in Albania. It has already passed the test because the approximate reserves of this company are estimated to be 232 milions barrels and during a day the company can produce 19.300 barrels.
Greek Government lately has signed Licence Agreements for the Ioannina and Katakolon blocks with the consortia of Energean and Petra Petroleum for Ioannina, and with Energean and Trajan Oil for Katakolon. This marks an important step towards achieving the first oil and gas production from new licence areas in Greece in over 30 years. Energean has planed to invest more than $60 millions in exploring for hydrocarbon reserves in Katakolon block and the southern Janina.
The president of the company has declared that no one knows how much oil reserves these areas contain by saying that “the oil sleeps“ in the Albanian seafront and southern Greece.
News source: Shekulli.com.al
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