The main focus of the WPB is production optimization of selected wells through the installation of downhole and surface equipment and chemical stimulation to enhance productivity. Equipment for the commencement of the WPB has been ordered and received at the Group's facilities in Albania and the initial wells are being prepared for the necessary upgrades.
Present at the Advisory Committee meeting were representatives from the Group, Albpetrol, AKBN and the Ministry of Infrastructure and Energy. During the meeting, the Group presented an overview of its operational activities for the WPB.
Peter Krempin, CEO, commented: "The approval of our WPB for 2024 is an important step in moving the Group forward. We expect the steps to be taken during 2024 to provide the foundation for future production growth. We would like to thank AKBN, Albpetrol and the Ministry of Infrastructure and Energy for their continued cooperation in advancing the project."
If you would like additional information, contact the Company either via email info@unitedterra.enterprises or by telephone at +423 236 40 10.
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The issuer is solely responsible for the content of this announcement.
About United Terra Enterprises PLC
United Terra Enterprises is an international energy company engaged in the upstream oil and gas sector and the energy transition to renewable energy. The company is focused on establishing a responsible balance between conventional energy sources and the protection of the environment.
https://unitedterra.enterprises
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