Project Profile
Location: 50 kilometres (31 mi) southeast of the city of Fier in south central Albania
Reserves: 192 million barrels
Production: 650 barrels per day
Water Depth: 2650-3700m
Cakran-Mollaj oil field is a large on-shore Albanian oil field that was discovered in 1998. It is located 50 kilometres (31 mi) southeast of the city of Fier in south central Albania. Its proven reserves are about 192 million barrels (30.5×106 m3). It produces approximately 650 barrels per day (103 m3/d). This is the deepest of the carbonate oil fields at 2650-3700m. There are 65 existing wells, of which 27 are actively producing. The goal for the project is to increase production three to five fold by using modern technology. Stream Oil & Gas performed flow improvement tests and optimised performance on two wells. Infrastructure upgrades are in progress. The company has reserved a rig, subject to fund raising, in order start a staged rehabilitation program on the 14 producing wells that operate in the field and reactivate another taken over recently. In addition to the rehabilitation program on 14 producing wells, the Company has take over another 20 wells for reactivation.
Operators:
TransAtlantic Albania (subsidiary of GBC Oil)
Albpetrol: Operator with 100% interest (January, 2017)