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"It will change the economy of the country", Rama on the oil found in Shpirag: There are hundreds of millions of dollars in wealth of those who are not living and those who will be born

2023-08-23 12:38:54Politikë SHKRUAR NGA REDAKSIA VOX
"It will change the economy of the country", Rama on the oil found in
Edi Rama

Prime Minister Edi Rama has issued a statement to the media regarding the research for oil extraction in Shpirag. Rama says that after 10 years of work, the drilling has reached 6002 meters deep into the ground.

The head of the government said that a large reserve of high-quality oil has been affected and according to analyzes it is compared to the premium oil of Saudi Arabia.

Prime Minister Edi Rama announced that the total investment will reach 7 billion euros.

"The investment starts with 3 billion euros and until the completion of all the necessary infrastructure, as work will begin on a series of drillings to create the complex necessary to extract this wealth, it is a 7 billion investment in our country.

It envisages the construction of infrastructure... the division into gas, oil and sulphur, and the third is of special importance because it creates a base".

The taxes that will be collected every year from the extraction of oil in Shpirag and which are expected to be hundreds of millions of dollars per year, the government plans to administer them from the Sovereign Fund.

Norway's sovereign fund has also been consulted.

"The Sovereign Fund will have a profile that will integrate the need to support pensioners and balance the terrible burden inherited from the past with the ethical principle that this wealth belongs either to those who lived and worked in this country and did not have their share and of those who are born and have the right to have their share.

The sonvran fund is an investment fund that invests part of its income to multiply in the international market. We are working with the Center for International Development at Harvard University. Serious sovereign fund with great responsibility".

The reserve is there, at 2,002 km underground. The reserve was affected after a very difficult exploration and a massive investment made due to the repeated breakage of the probes, as a result of the geological formation. The water, which is under the reserve, has not yet been mentioned, which presupposes that the size of the reserve could be even greater. We cannot talk about concrete figures. The information at this stage is not confidential, but without receiving the result of the final test that determines whether the extraction of this asset is reasonable from a financial point of view. If it were more expensive than the benefit, it is understood that the reserve remains there for another time when technology can advance to dimensions that are not present today. Although Shell has used the latest technology. The test will start in October and the results are based on tracking the stability of the flow coming out on the surface. The discovered oil is of the highest quality, the first time this has happened in our country. According to the analyzes done in the Netherlands, the oil is of the first quality of the premium oil of Saudi Arabia.


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