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Shell unit unveils potential 'significant' oil find in Albania

Shell Upstream Albania BV, a subsidiary of oil major Royal Dutch Shell PLC, said May 24 that initial tests on its Shpirag-4 well in central Albania revealed a flow potential of "several thousand" barrels of oil per day but that more work was needed to appraise its commercial value.

The Shell subsidiary plans to push through with extended production tests on the Shpirag-4 well, along with more drilling to appraise the Shpirag-3 well. The unit will also conduct more exploratory work in the blocks to determine their potential.

The Shpirag discovery is located in a fractured carbonate reservoir with a geological setting similar to the Val D'Agri and Tempa Rossa fields in Italy. Shell became a partner in the project in 2012 and now owns a 100% stake in blocks 2 and 3. The company will get a 100% interest in block 4 within the year.