Manas Petroleum

The report was compiled by Gustavson Associates LLC on behalf of Manas Petroleum Corporation, which has been awarded a contact by the Albanian government to explore the north of the country for oil and gas reserves.

According to their findings, the unproven reserve holds up to 2.987 billion barrels of oil and 3.014 trillion cubic feet of natural gas.

However if the oil is capped with a layer of gas, Gustavson calculates the field to total 1.4 billion barrels of light oil and 15 trillion cubic feet of natural gas.

And in the event that only gas is present, the reserve is expected to contain 28 trillion cubic feet of natural gas.

The Balkans region has proven oil reserves totalling approximately 345 million barrels. Of that, 198 million barrels is located in Albania .

Proven natural gas reserves in the Balkans region add up to approximately 2.7 trillion cubic feet.

Under the licence awarded to Manas Petroleum Corporation, the company is allowed to explore oil and gas reserves in an area approximately 780,000 acres in size, located along a geological fold in north-western Albania.

'The probability of success for a wildcat well in a structurally complex area such as this, is relatively high due to the fact that there exists a proven hydrocarbon source and analogous production exists only 20 to 30 km away,' notes Gustavson in the report.

Manas is currently still analysing the findings and will make further announcements on its next steps in the coming weeks.

The corporation is an important player in the development of Albania's terrestrial oil and gas reserves.

In December 2007, Albania's Council of Ministers agreed to allow DWM Petroleum AG, a subsidiary of Manas, to assist in the exploration, development and production of Albania's land-based hydrocarbon reserves in conjunction with the government's Agency of Natural Resources.

Source

Comments (7)

Subscribe to this comment's feed

D said:

	... Sorry to say Ilir. Keep on dreaming. Do you really think the US is interesting in the labanians living in the southern province of Serbia (Kosovo)?? I have to agree with Bobby. The only reason they have their largest military base in this part of Europe is of Strategic reasons and natural resources. They do not give a damn about the people there, Serbs or albanians, etc.
	report abuse vote down vote up

April 15, 2008
Votes: +1

Nick Basha said:

... The masive find of oil will help Albanians, improve their life and maybe now Albanians living abroad may go back and work to be close to their families. I am Albanian and studied Geology in Albania before I fleed Albania in 1992. This makes me very happy to hear that we have a wealth of resources In the mother land of Albania. There things we should worry about. Such as: Abuse of natural resources, Human Right Violation. Environmnetal abouse by the oil corporation. The example have bneen set in Nigeria, Iraq, Iran, Chile, Afganistan and many other countries to mention.

report abuse vote down vote up

February 28, 2008
Votes: +1

gollygeewhiz said:

	... And here I thought the Bushter was doing it because he admired the Kosovo Liberation Army's commitment to democracy. Another beautiful illusion shattered.
	report abuse vote down vote up

February 20, 2008
Votes: +0

Santhoshi said:

	... This is a great victory for the USA and its faithful ally Al Qaeda! http://www.prisonplanet.com/us_supported_al_qaeda_cells_during_balkan_wars.html
	report abuse vote down vote up

February 19, 2008
Votes: -1

Ilir said:

Great news!!! Bobby, It is better to have US "occupy" Kosova, and together with the people of Kosova use its resources, than to have let Serbian state suck that continuously and in return torture and kill locals. We Albanians always knew what really the "craddle of Serbian nation" was. I never heard of any church in Kosova producing producing coal or any other valuable stones, so you can guess what I am aiming at. Sunny Meadow, if you refer to this statistics http://www.infoplease.com/ipa/A0872964.html then seems like USA has produced reserves only next for 2 years? I doubt that. On the other hand, I salute this finding, and hope that something will start in this direction. Albania deserves to get out of this situation, and prosper just like Norway did when they found their oil in 70s. Go go Albania .

report abuse vote down vote up

January 14, 2008
Votes: +0

Bobby said:

... "The determination by the U.S and NATO, at all costs, to occupy Kosovo and virtually all of Yugoslavia, is spurred on by the enticement of abundant natural resources. Kosovo alone has the richest mineral resources in all of Europe west of Russia. The New York Times observed that "the sprawling state-owned Trepca mining complex, the most valuable piece of real estate in the Balkans, is worth at least $5 billion." producing gold, silver, pure lead, zinc, cadmium, as well as tens of millions of dollars in profits annually. "Kosovo also possesses 17 billion tons of coal reserves and Kosovo (like Serbia and Albania) also has oil reserves."

report abuse vote down vote up

January 11, 2008
Votes: -1

Sunny Meadow said:

	Great! Three billion barrels would run the USA for about five months. Keep looking.
	report abuse vote down vote up

January 11, 2008
Votes: +0