The search agreement for block No. 4 is signed with SHELL

“This agreement constitutes a breakdown from the time when the state budget benefited from them only the mining rent. Now we have an agreement that is a clear and long-term guarantee of mutual benefit, certainly in the interest of the company, but also in the interest of the Albanian people, “said Prime Minister Rama.
According to him, the agreement that is signed is the result of a mutual interest process and a mutual insistence to reach a process where not only mutual benefits are guaranteed, generation is ensured in the early years of hundreds of jobs, while the entirety of the project is estimated to have an impact of extraordinary importance in the Albanian economy.Minister Gjiknuri praised the current performance of SHELL’s investment in oil exploration for block agreement no.2 and no.3. In this regard, he said that today’s ceremony represents a new phase of raising the company’s attention to Albania.

“This contract is the first one that SHELL signes directly with the Albanian government. It is a sign of confidence that serious investors have on the business environment in Albania. The hydrocarbon sector in our country continues to awaken the interest of such companies and this is a very good news. There is interest and from other companies. SHELL’s presence in Albania and the continuation of search operations will also affect the arrival of other companies. We commit ourselves to doing our best to welcome these companies to invest in Albania, “said Gjiknuri.

“Even this new contract being signed has some elements far better than previous contracts.  This has not been in other contracts and we want this good model for the Albanian government as well as foreign investors to be promoted in other areas as well, “Gjiknuri said.Deputy President of SHELL, responsible for exploration operations in Europe, Mr. Max Brouéers stated that “the signature of block No. 4 is very important, it is the first contract between the Albanian government and the SHELL company. This document predicts how we will work together hope in the decades to come. The first stages of work will be preparation and planning to better understand the potential of the underground. Then, we will go to exploration and drilling, and if they are successful then it will be the beginning of important economic and infrastructural investments that create economic benefits throughout the country. “