Canadian company Bankers Petroleum said
on Wednesday its third-quarter average production from the Patos-Marinza and
Kucova oilfields in Albania totalled 19,598 barrels of oil per day, down 2.0%
on the quarter.
A total of 14 wells were drilled during the third quarter in the main area of
the Patos-Marinza oilfield, 13 of which were horizontal production wells in
Patos-Marinza and one horizontal producer in Kucova, the company said in a
statement posted on its website.
"Twelve of the producing wells are on production, the remaining two wells
will be placed on production early in the fourth quarter," Bankers
Petroleum said.
The company plans to drill 14 horizontal production wells and one multi-lateral
well in the fourth quarter of the year.
Bankers' main operations are located in Albania, where the company has the full
rights to develop the Patos-Marinza and Kucova heavy oilfields pursuant to
25-year licence agreements with the Albanian National Agency for Natural
Resources and a Petroleum Agreement with Albpetrol.
The Patos-Marinza oilfield is the largest onshore oilfield in continental
Europe, holding approximately 7.7 billion barrels of original oil in place. The
Kucova field has 297 million barrels of original-oil-in-place.
Bankers also holds a seven-year exploration licence on a 185,000 acre block
named "Block F" in Albania, which is also prospective for natural
gas.
Source: SeeNews