Pennine bags Albania PSA

摘要

Pennine Petroleum Corp has signed a Production Sharing Agreement (PSA) with state-owned Albpetrol for the exploration and development of the Velca Block in Albania. The PSA contains a licence agreement signed by Pennine, Albania’s Ministry of Energy and Industry, and Albpetrol for a six year exploration lease that is convertible to a 25-year production lease upon discovery of oil and/or natural gas.