Overview

  • Operation of the largest onshore heavy oil field in continental Europe with potential to increase recovery by the application of primary, secondary and enhanced oil recovery (EOR) extraction technologies.

In Albania, we hold interest in two heavy oil fields -- Patos-Marinza and Kuçova, plus an exploration contract.  Features include:

Patos-Marinza oil field:

  • 100% W.I. & operatorship
  • 25 year term license agreement to 2029 with multiple 5 year extentions
  • 5.4 billion barrels of Original Oil in Place (OOIP)
  • Reserve base of 232 MMbbls (P+P)
  • 6°  to 22° API crude oil
  • Long-life reserves with production growth potential

Kuçova oil field:

  • 100% W.I. & operatorship
  • 297 million barrels of Original Oil in Place (OOIP)
  • Reserve base of 11 MMbbls (P+P)
  • 14° to 22° API crude oil
  • Long life reserves with production growth potential  
  • Evaluation stage with upside for increased recovery through waterflood

"Block F" exploration contract:

  • 185,000 acres
  • Contiguous with the Patos-Marinza block
  • Prospective for natural gas

Our strength comes from an experienced management and employee team, solid financial performance, and great potential for growth.