Transoil Group's tender for Amonice, Gorisht Kocul and Cakran Mollaj oil fields has been provisionally accepted, subject to approval by the Council of Ministers which is pending as of early June 2018. State oil company Albpetrol currently operates the blocks but is exiting E&P and offered them for public tender in February-March 2018, and local press reports that nine companies tendered for the blocks. Transoil had earlier applied in April 2017 to acquire Amonice, Gorisht Kocul and Cakran Mollaj from Albpetrol, with a counter-bid reportedly submitted by Jurimex, an Austrian-registered firm partly owned by Gazprom, but Jurimex was eliminated from the bidding process. Amonice was previously operated by Phoenix Petroleum Gas, whilst Gorisht Kocul and Cakran Mollaj were held by GBC Oil Company, but all three were repossessed by Albpetrol during Q1 2017 due to unfulfilled contractual obligations, and also US$ 20 million debt default in GBC's case. The fields are located in the SW of the country, Cakran Mollaj in the more central Fier District, and Amonice and Gorisht Kocul further to the S in Vlore District. Amonice was estimated to hold 31 MMbo originally in place (OOIP). Gorisht Kocul and Cakran Mollaj were discovered in 1965 & 1978 respectively, and produce from Cretaceous and Palaeogene carbonate reservoirs. Transoil is trialling nitrogen foam injection to manage water influx at the nearby Visoka oil field, and - if successful - is likely to extend this technique to Amonice, Cakran Mollaj & Gorisht Kocul. Pending completion of the Transoil acquisition, Albpetrol operates all three fields with 100% equity.<P />
Transoil Group's tender for Amonice, Gorisht Kocul and Cakran Mollaj oil fields has been provisionally accepted, subject to approval by the Council of Ministers which is pending as of early June 2018. 