In November 2014, TransAtlantic entered Albania by acquiring 100% of Stream Oil & Gas Ltd. We will apply experienced engineering methods to these legacy properties and upgrade existing oilfield technology.
The Gorisht, Cakran and Ballsh oil fields are structurally trapped carbonate reservoirs that comprise 15,000 net acres in southern Albania. In 2015, we expect to deepen, core and log two wells to the oil-water contact in each field. Creating a petrophysical model will allow us to better understand the fields' characteristics. We expect to optimize wells with recompletions and workover activity, reduce costs and modify existing infrastructure.
The Delvina field in far southern Albania is a proven gas condensate field. It lies on one of the largest gas structures in southeastern Europe and is comprised of 60,000 net acres. The field contains four structures and has two existing verticals wells. We plan to finish drilling the Delvina-34 well and drill one well on an adjacent structure in 2015.