Petromanas Postpones Delivery of Rig for Albanian Well Until Q4

Canada-based oil and gas company Petromanas Energy said it has decided to postpone the delivery of a heavy drilling rig in Albania until the last quarter of 2015.

The company has decided to postpone the delivery of the 3,000 horsepower rig, announced in the company's press release dated October 8, 2014, following discussions with the rig contractor, it said in a statement posted on its website on Thursday.

The rig will be used at the Shpirag-3 well site.

Petromanas Energy Inc. is an international oil and gas company focused on the exploration and development of its assets in Albania. Petromanas, through its wholly-owned subsidiary, holds two production sharing contracts with the Albanian government. Under the terms of the contracts, Petromanas has a 100% working interest in Blocks D and E and a 25% working interest in Blocks 2-3 that comprise more than 1.1 million gross acres across Albania's Berati thrust belt. Shell holds the remaining 75% interest in Blocks 2-3.

Petromanas also holds exploration assets in France and Australia.

Source: SeeNews