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Stream Oil and Gas plans to build a gas fired thermal power plant
Tirana, Dec. 14, (AENews) – Stream Oil & Gas Ltd (“Stream”) a Canadian based emerging oil & gas production company, announced that intend to build a gas fired thermal power plant in south Albania.
“A scoping study evaluating the installation of a 150MW gas fired power plant on the Delvina Gas Field in southern Albania, shown positive results”, Stream said in a press release. The study was conducted by Pöyry Energy consulting and engineering company.
The Delvina Power Plant Project includes the conversion into electricity by a combined cycle plant located in close proximity to the Delvina gas field. Initially, the size of this plant would to be around 100 MW, with an extension to 150 MW at a later stage. The gas consumption of a 100 MW power plant at base load is around 480 MNcm3/d, which is in line with Company’s gas production forecast from the Delvina gas field.
“According to the study, overall investment cost for a 100MW station is approximately 90 M Euro ($126M USD) and with a life time of 20 years is economic even under the assumption of current local pricing for gas at around $15Nmcf which represents three fourths of the operating costs”, Stream said.
Stream is a Canadian-based emerging oil and gas production, development and exploration company with assets in Albania focusing on the re-activation and re-development of three oil fields, and a gas and condensate field, all of which are in production.
Stream has entered into Petroleum Agreements with Albpetrol Sh.A. the Albanian state exploration and production company, and is conducting a staged evaluation, takeover and redevelopment program under four separate 25-year license agreements with Albania’s National Petroleum Agency.
Under these Agreements, Stream has the rights to take-over the operations of all wells in the Gorischt-Kocul, Ballsh-Hekaj, and Cakran-Mollaj oil fields, and the Delvina gas field, and produce the remaining reserves. Takeover of the wells is being completed in stages.
