Shell Company boosts investments in Albania after discovery of potential reserves

The discovery of an oil area in Berat County, in the south of Albania, has attracted Shell Oil Company to increase investments in Albania, according to Albanian daily news report on Monday.

The director of Shell for Albania declared that in the Shpirag area experts have discovered an oil field which has also natural gas.

According to the company's official statement, "From the search operations in Berat County we have succeeded after the discovery of an oil field in Shpirag. However, we don't posses data regarding the reserves of oil and natural gas in this area."

"On this behalf, our company in cooperation with Petromanas Company has decided to increase investments of operations for the exploration of the area in search of oil and gas reserves. Also, we are working in opening three oil wells in this area. In this way, we will have a clearer view and data about the reserves this area has," the statement read.

Shell and Petromanas companies comprise the biggest consortium in Albania and undertake operations in searching, discovering and exploring areas throughout the country for the identification of potential reserves of hydrocarbons.

For now, the entire work of these companies is focused in Shpirag area after the unsuccessful exploring in Kruje and Shkodra areas since the reserves found were very low and inconsiderable for undertaking exploration operations. Endit