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14 Pages

Albania Ionian Sea exploration basin

Albania Ionian Sea exploration basin

Report summary

Exploration in the Albania Ionian Sea Basin began in the early 20th century and has historically focused on the shallow Tertiary Onshore play, which is characterised by small (<10 mmboe), predominantly heavy oil fields.

Exploration in the Ionian Sea was transformed in 2013, when Petromanas, partnered by Shell, made a large, play-opening discovery. The 160 mmbbl Shpiragu discovery is the largest onshore find in Europe for over a decade, and accounts for a third of the total volume discovered in the Ionian Sea to date. The newly opened play is complex - Triassic to Eocene fractured carbonates, buried to more than 6,000 metres.

This Exploration Basin report provides a detailed analysis of exploration in this basin, including costs, discovered and yet-to-find volume and prospect and play economics. It is accompanied by multiple excel downloads.

What's included?

This report includes 2 file(s)

  • Albania Ionian Sea exploration basin PDF - 695.80 KB 14 Pages, 11 Tables, 14 Figures
  • Albania Ionian ZIP - 2.62 MB


Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.

Explorers and advisors can use this report to understand the history and potential value of this basin.

Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
    • Assumptions
  • Summary and key issues
    • Key issues include:
  • Location maps
  • Participation
  • Geology
    • Key play characteristics
  • Exploration
    • Wells drilled and success rates
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • TYP and outlook economics
      • Prospect economics
        • Deep Onshore Carbonates
      • Expected monetary value
    • Full cycle basin economics

In this report there are 25 tables or charts, including:

  • Key facts
    • Play level data
    • Key facts: Table 2
    • Price assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality index
  • Location maps
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Geology
    • Geology: Table 1
  • Exploration
    • Drilling activity by well type
    • Discoveries and success rates
  • Reserves and resources
    • All discoveries (TYP period)
    • Deep Onshore Carbonates
    • Reserves and resources: Table 2
  • Development
    • Deep Onshore Carbonates
  • Costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
  • Fiscal and regulatory
    • Typical fiscal terms
  • Economic analysis
    • Economic analysis: Image 1
    • Economic analysis: Image 2
    • Unit value of potential discoveries
    • Prospect breakeven prices
    • Deep Onshore Carbonates
    • Full cycle economic analysis
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