United Terra Enterprises PLC proposed work plan for Visoka approved by regulatory body (AKBN) and state-run Albpetrol

EQS-Media / 16.04.2024 / 16:27 CET/CEST

United Terra Enterprises PLC Provides Operational Update

United Terra Enterprises PLC proposed work plan for Visoka approved by regulatory body (AKBN) and state-run Albpetrol.

Ruggell, Liechtenstein, April 16, 2024 – United Terra Enterprises PLC (together with Eurybia AG and its wholly owned Albanian subsidiary the “Group”) is pleased to announce that Albania’s National Agency of Natural Resources (“AKBN”) and state-run Albpetrol have approved the Work Plan and Budget for 2024 (“WPB”) proposed for the development of the Group’s operations at the Visoka oilfield in Albania. 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.

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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Language:

English

Company:

United Terra Enterprises PLC

Industriering 3

9491 Ruggell

Liechtenstein

Phone:

+423 236 40 10

Fax:

+423 236 40 19

E-mail:

info@unitedterra.enterprises

Internet:

https://unitedterra.enterprises/

ISIN:

LI1209493892

WKN:

120949389

EQS News ID:

1881881

End of News

EQS Media

1881881 16.04.2024 CET/CEST