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During the 1990s Shell Oil and Coparex and others acquired approximately 4000 kilometers, Petromanas acquired 189 kilometers of seismic on these concessions.
When both Shell and Coparex abandoned their projects in the late 1990s (after spending just over $25 million on the blocks) Albania was in a state of total chaos. Like many ex-communist states Albania's political and economic system had collapsed. At the time it was impossible to predict whether it would get better or worse. Shell and Coparex decided to escape the turmoil, in essence allowing Manas to later acquire these superbly defined, giant, virtually drill ready prospects. |
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