Canadian-based oil and gas exploration company Bankers Petroleum has signed a USD 34mn deal to take full control of Patos-Marinza oilfield in Albania, the company said in a statement. Bankers Petroleum agreed to take over 140 active wells from state oil producer Albpetrol. The current production of the wells is 400 barrels per day (bpd). Albpetrol shall retain all liabilities and obligations for legacy environmental damages in the contract area. As of March 31, 2011, Albpetrol ceased all petroleum operations in the Patos-Marinza oilfield and contract area and Bankers Petroleum became the only operator of the oilfield. The agreement provides opportunity for accelerating field reactivation and development, reducing administrative processes, Bankers CEO Abby Badwi commented in the statement. |
Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more
The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more
The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more