Some of the most prestigious companies in the world in the field of hydrocarbons joined today in Tirana, in a two-day summit on energy. The aim is to promote Albania’s natural resources and give information on the provision procedures for free blocks of oil and gas.

The Ministry of Energy and IRN International opened the proceedings of the first day of “Albania Oil, Gas & Energy 2015”. Companies SOCAR, Shell, BP, Exxon Mobil, Anadarko, ENI, Fluxis, NIS and Repsol were the special guests of this two-day summit.

Minister Gjiknuri said that very soon the Ministry of Energy will start procedures for the provision of the first three blocks for research to interested companies through competitive negotiation procedures, with the aim to attract more serious companies that could afford investments in new research in Albania. This will avoid past failures, Gjiknuri continued, where oil blocks were given to not serious actors, who were unable to fulfill the commitments made.

In addition, the Albanian government will carry out the seismic profiling in the free marine blocks, in order to prepare the necessary data base to organize auctions for other free blocks in the sea. A total of 13 free blocks of oil and gas are counted in the country. They are spread out in different areas and for all of them previous searches have been conducted, with the conclusion that there is potential for reservations. Blocks are mainly located in the eastern and southeastern area.