The Albanian National Agency of Natural Resources (AKBN) has named Petromanas Energy, along with its joint venture partner Royal Dutch Shell, as the successful bidder for Block 4 onshore Albania, following an international auction, according to a news release.
Block 4, which spans about 874 sq miles, is located southeast of Petromanas’ current production-sharing contract (PSC) comprising blocks 2 and 3.
The award is conditional and subject to finalizing detailed negotiations with the Ministry of Energy and the AKBN, the release said. The application for Block 4 reflects joint venture interests of 25% for Petromanas and 75% for Royal Dutch Shell, who will serve as operator, according to the release.
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