Asset report

Albania Ionian Sea exploration basin

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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 contains

  • Document

    Albania Ionian

    ZIP 2.62 MB

  • Document

    Albania Ionian Sea exploration basin

    PDF 695.80 KB

  • Document

    Albania Ionian Sea exploration basin

    ZIP 3.20 MB

Table of contents

Tables and charts

This report includes 25 images and tables including:


  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Exploration and appraisal spend
  • Commerciality index
  • Drilling activity by well type
  • Discoveries and success rates
  • Deep Onshore Carbonates
  • Economic analysis: Image 1
  • Economic analysis: Image 2
  • Unit value of potential discoveries
  • Prospect breakeven prices


  • Play level data
  • Summary of discovery and development costs
  • Key facts: Table 2
  • Price assumptions
  • Geology: Table 1
  • All discoveries (TYP period)
  • Reserves and resources: Table 2
  • Deep Onshore Carbonates
  • Typical fiscal terms
  • Full cycle economic analysis
  • Deep Onshore Carbonates

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