Albanian Ministry of Energy said that it has signed an oil exploration agreement with Shell Upstream Albania for Block 4 in southern part of the country.
According to the agreement, Shell will invest a total of 42.5 million dollars in exploration activities at Block 4 in the next seven years, divided into three stages. The maximum duration of the agreement is 25 years with the option for its extension if Shell discovers another deposit.
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Tags: Albania, exploration, oil, Shell, Shpirag