On Monday, Albania started the procedures for the hydrocarbon agreements on exploration of seven onshore and offshore oil and gas blocks, said Albanian minister of energy and industry Damian Gjiknuri.
On June 15, the tender procedures to explore the first seven oil and gas blocks will be held.
The Albanian National Agency of Natural Resources (AKBN), which designated the seven onshore and offshore oil and gas blocks, will be publishing the map of free blocks for exploration in Albania, along with the application form also with the deadline for submission of applications for explorations in the blocks until June 15, on its website, stated the minister's order.
For oil and gas exploration and production, the seven new areas will be further subject to competition in an open process, and selection of the winners will be done through pre-defined criteria.
According to the minister, the gas and oil exploration operations would likely attract foreign capital to help the country's economic development.
On June 15, the tender procedures to explore the first seven oil and gas blocks will be held.
The Albanian National Agency of Natural Resources (AKBN), which designated the seven onshore and offshore oil and gas blocks, will be publishing the map of free blocks for exploration in Albania, along with the application form also with the deadline for submission of applications for explorations in the blocks until June 15, on its website, stated the minister's order.
For oil and gas exploration and production, the seven new areas will be further subject to competition in an open process, and selection of the winners will be done through pre-defined criteria.
According to the minister, the gas and oil exploration operations would likely attract foreign capital to help the country's economic development.