Eni signs a Production Sharing Contract in Albania

Source: press release, 20 December 2019

photo: Eni
photo: Eni

In the presence of the Albanian Prime Minister, Edi Rama, Eni’s CEO Claudio Descalzi, signed with the Ministry of Infrastructure and Energy Belinda Balluku, the Production Sharing Contract to explore, with a 100% equity interest, the Dumre Block, in the onshore of Albania, following a competitive bid launched in September 2019 by the Albanian National Agency for Natural Resources (AKBN). The Dumre Block covers an area of 587 square kilometres and is located approximately 40 km south of the capital Tirana, in a “proven” hydrocarbon area with good oil prospectivity.

The re-entering of Eni in Albania, a country which will become an important junction for energy for Europe and the Balcans, will further strengthen the excellent relationship with Italy, nowadays the most important commercial partner of the country.

Eni has been present in Albania in the early ‘90s, competing in the first international bid for the Albanian offshore and being awarded with two offshore exploration blocks, Adriatiku-2 and Adriatiku-4. After drilling three wells with non-commercial results, Eni left the Country in 1999.

With the award of Dumre Block, Eni, which is the operator through the new subsidiary Eni Albania, took the commitment to drill an exploration well and looks forward to closely work with the Albanian Authorities to contribute to the economic growth of Albania as a strategic partner.

“The new entry after 20 years in Albania, in the Dumre Block, represents a very important step for Eni, which is committed with its competences, know-how and sustainability drivers to help developing a key country of the Balcan region and Italy’s strategic partner,” commented Eni’s CEO, Claudio Descalzi.