The Ministry of Infrastructure and Energy reacted on Monday to the latest media reports on the termination of the exploration project of Shell in the Shpirag oil well.

In a press release, the Ministry said that the research process for oil and gas storage in the Shpirag area, as a strategic ambition and long-term program of the Albanian government, started with the approval of the production sharing contract in July 2009 and continues with the relevant difficulties as a consequence of the very complex geological formation of the subsoil of this area.

The Ministry also informs that the situation is at the stage where it is scientifically proven and documented, the discovery of a significant deposit of 225 million barrels of oil reserves, as well as a significant gas reserve in the Shpirag underground.

"Also, the oil quality tests in this reserve have given an excellent result, with a gravity ranging between 35-37o API (American Petroleum Institute) or, in other words, a quality that is almost the same parameters as the oil of avant-garde countries in the black gold market," the statement quoted.

The time to finalize the process of extracting this amount of oil for the market, according to MIE, is conditioned by the very specific geology of the Shpirag underground and the adoption of a special technology for exploiting the reserve, therefore the Shell company, specialists in the field, as well as state authorities have been constantly careful about the necessary time limits.

"But in the conditions of disinformation of the last days, from the lack of necessary information or politically inspired malice, there is a need to publicly underline the truth that this is a hydrocarbon agreement in force and that there is no termination of research in Shpirag, but there is only the search for the right technological solution for exploiting an already discovered underground wealth. It is a pity that with cynical haste some disinformation sources have decided to announce the failure of research in one of the most important places of our country," the Ministry said in the statement.

Furthermore, the Ministry assures the public opinion that the Albanian government and the Ministry of Infrastructure and Energy continue without any doubt the work, in interaction with partner companies to finalize the process of exploiting the oil discovered in the Shpirag area, waiting for other good news in other oil-bearing areas in the country, where there are very encouraging data.

Earlier on Monday, in a press release distributed by Eno Bozdo, a member of the DP fraction supporting Sali Berisha, also posted on his Facebook social network, it was said that the Shell company withdrew from the Shpirag well and that Edi Rama should apologize to the Albanians for the “stratospheric lie”.