Albania Ionian Sea exploration basin

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.