US-based mineral exploration company Sky Petroleum has arranged a non-brokered private placement seeking to raise up to USD 2mn to finance the development of three exploration blocks in southern Albania, the company said in a press release. The company will issue 8mn Class A units at a price of USD 0.25 each. Each unit includes a common share and one-half warrant. Sky Petroleum delivered in August 2011 a USD 1.5mn bank guarantee to Albanias National Agency of Natural Resources (AKBN) as part of its production sharing contract for exploration on the three blocks. Their total oil-bearing potential is estimated at some 900mn barrels of oil equivalent. The company plans to commence drilling operations in Albania in 2012. |
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