Shell confirms the potential of the Shpirag-4 oil field in Albania

Shell confirms the potential of the Shpirag-4 oil field in Albania
 
 The first tests of Shell Upstream Albania B.V. (Shell) in the Shpirag-4 oil well near Berat, confirm the discovery of oil.

"Shpirag Shell's discovery is the first on land in a tectonic, wrinkled and gray-tailed formation in Albania (the geological structure of the hydrocarbon reservoir)," said Marc Gerrits, Shell's Exploration Executive Vice President. "We are all satisfied that these first tests have confirmed the potential of this discovery and we expect to increase our business in Albania."

A few days of well testing was carried out according to expectations, with a potential flow of several thousand oilfills per day. The recoverable oil volume from Shpiragu should be further defined through other valuation activities.

The excavation of Shqipragu, in a fractured carbonate reservoir, is in a geological structure similar to the large fields of Val D'Agri and Tempa Rossas in Italy, where Shell has an important non-operative position.

The next step in the evaluation program is to carry out a long-term evaluation test at the Shpirag-4 well, followed by evaluation drilling in the Shpirag-3 well. In parallel, Shell plans to conduct other drilling rigs within the blocks that have the right to test their potential.

Shpirag's discovery was confirmed in 2013 by the Shpirag-2 well, which showed the presence of a light oil column at least 800m in the reservoir.

The successful results of the next steps of the evaluation program will lead to the drilling of more wells, the development of a Pilot Assessment System and potentially the full development of the exploitation, a step that will depend on a final investment decision.

Shell became a partner in the project in 2012 and now owns 100% of the interests in the Block 2-3 and will effectively receive 100% of the rights in the Block 4 in 2019. The joint surface of the Blocks 2-3 and the Block 4 are 4,084km2.

Within this area are identified other major hydrocarbon resources, yet unrated, but providing opportunities for further exploration activities.
Shell confirms the potential of the Shpirag-4 oil field in Albania Shell confirms the potential of the Shpirag-4 oil field in Albania Saturday, May 25, 2019 Rating: 5
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