San Leon invites bidders for stake in Albanian oil exploration licence.

By bne IntelliNews January 18, 2012
UK-based mineral exploration company San Leon Energy has invited bidders to bid for a stake in its Albanian exploration licence on Durresi Block, the company said in a statement. San Leon has opened a data room for bidders interested in the stake, after its Australian partner Beach Energy decided to withdraw from the project in December 2011 and transferred its 25% ownership to San Leon. The company said it received a number of unsolicited offers. San Leon also said it identified more than 1bn barrels of oil equivalent (BOE) in the Durresi Block offshore, following a 3D seismic survey, which was completed in 2011. The survey covered 840 square km, or some 20% of the block's total area, in which San Leon holds a 100% interest. The UK company plans to commence drilling operations in late 2012 or early 2013.

Related Articles

Albania calls tender for supervision of sewerage project.

Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more

Albania's govt approves changes in concession agreement for Devoll project.

The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more

Albanian parliament panel endorses EUR 12.7mn EBRD loan for dam safety project.

The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more

Dismiss