Petromanas, Shell secure new rig

TIRANA, Oct. 9 – Canada-based Petromanas Energy and its Dutch partner Shell have announced they have reached a deal with a third party to secure a 3,000 horsepower heavy drilling rig for use in its planned 2015-2016 drilling program in Albaina.
“The new rig we have sourced is designed to deal with the rigours of the deep, geologically complex wells we are drilling in Albania,” said Glenn McNamara, Chief Executive Officer of Petromanas. “The joint venture intends to use the new rig to drill its third and fourth wells on Blocks 2-3, which will be appraisal wells to the Shpirag-2 discovery well.”
Petromanas holds a 25 percent working interest in Blocks 2-3 and is the operator with Shell holding the remaining 75 percent interest.
Earlier this year, Canada-based Petromanas has announced its withdrawal from Block D-E in central Albania after a regulator refused the company’s request to enter the third exploration period with a reduced financial commitment.
Through its wholly-owned subsidiary, Petromanas holds a Production Sharing Contract with the Albanian government. Under the terms of the PSC, Petromanas operates two onshore blocks (Blocks 2-3) that comprise 852,000 highly prospective gross acres across Albania’s Ionian and Kruja Tectonic Zones.