Tag: Velca

Albania terminated PSA with Pennine – Albania, 02 May 2019

Albanian Ministry of Infrastructure and Energy decided to terminate production shared agreement (PSA) signed between state-owned Albpetrol and Canadian Pennine Petroleum Corporation for the Velca block. The statement from the Ministry said that the agreement was terminated because Pennine failed Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power […]

Pennine contacts potential investor for the development of Velca onshore block – Albania, 11 February 2019

Canadian Pennine Petroleum Corporation said that it has contacted four potential investors who expressed interest in participating in onshore Velca block production sharing agreement. CEO of Pennine Petroleum Desmond Smith said that the company is working hard to secure investors as it moves towa Full article available for subscribers of Energy NEWS service (PDF publications, […]

Pennine completed data digitalization for Albanian Velca block – Albania, 01 October 2018

Canadian Pennine Petroleum Corporation said that it has completed the digitalization of geophysical and geological information on Velca oil block in Albania with the aim to use the data for future drilling activities within the block. Pennine CEO Desmond Smith said in a press release explained th Full article available for subscribers of Energy NEWS […]