Just in case you were wondering why the US was so quick in accepting Kosovo’s independency. ANd why in fact it has worked so hard to make it independent.
by Stephen Lendman
Global Research, February 19, 2008
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On January 10, Swiss-based Manas Petroleum Corporation broke the news. Gustavson Associates LLC’s Resource Evaluation identified large prospects of oil and gas reserves in Albania, close to Kosovo. They are in areas called blocks A, B, C, D and E, encompassing about 780,000 acres along the northwest to southeast “trending (geological) fold belt of northwestern Albania.”
Assigned estimates of the find (so far unproved) are up to 2.987 billion barrels of oil and 3.014 trillion cubic feet of natural gas. However, because of their depth, oil deposits may be capped with a layer of gas. If so, Gustavson calculates the potential to be 1.4 billion barrels of light oil and up to 15 trillion cubic feet of natural gas. Further, if only gas is present, the discovery may be as much as 28 trillion cubic feet. In any case, if estimates prove out, it’s a sizable find.
In its statement, Gustavson reported: “The probability of success for a wildcat well in a structurally complex area such as this is relatively high (because) it is in a structurally favorable area (and) proven hydrocarbon source and analogous production exists only 20 to 30 kilometers away.”
Currently, the Balkans region has small proved oil reserves of about 345 million barrels, of which an estimated 198 million barrels are in Albania. Proved natural gas reserves are much larger at around 2.7 trillion cubic feet.
In December 2007, Albania’s Council of Ministers allowed DWM Petroleum, AG, a Manas subsidiary, to assist in the exploration, development and production of Albania’s oil and gas reserves in conjunction with the government’s Agency of Natural Resources.