Albania upstream summary Report

Country Report 15 February 2024

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Report summary

Albania is a mature hydrocarbon province, with a long history of liquids production. Most oil is heavy and required extensive EOR techniques to maximise recovery. Bankers Petroleum dominates production and operates the largest onshore oil field in Europe, Patos-Marinza. The Shpiragu field is operated by Shell. It is the second largest field in Albania, and if developed will significantly increase Albania's oil production. Exploration is focused onshore. Albania is strategically located in the Southern Gas Corridor with the Trans Adriatic Pipeline (TAP) providing the single largest source of foreign investment in Albania's history. Albania plans to utilise the foreign investment as part of its Gas Master Plan, which will see the complete gasification of the country by 2040.

Executive summary
Key facts
Location maps
Key companies
- Key operators
  - Majors
  - IOCs
  - NOC
- Other operators
  - Onshore
  - Offshore
Geology
- Introduction
- Ionian and other Albanide zones
- Albanian foredeep
- Apulian foreland
Exploration
- Licensing
- Recent licensing
  - 2019 onshore tender
  - 2015 onshore and offshore tender
- Historical licencing
  - Offshore
  - Onshore
- Drilling
  - Drilling activity
  - Current and future activity
  - Historical activity
Reserves and resources
- Resources by sector
- Reserves by report
Production
- Liquids
  - Future production
  - Historical production
- Gas
  - Future production
  - Historical production
Infrastructure
- Oil infrastructure
  - Pipelines
  - Rail and sea transportation
  - Refineries
- Gas infrastructure
  - Ongoing projects
  - Future projects
Policy and regulation
- Key legislation
  - Petroleum Law
  - Law on petroleum taxation
- Regulatory body
- State oil company
  - Albpetrol
  - Other state entities
- State participation
- Licensing
  - Abandonment
  - Other legislative provisions
Fiscal terms
- Overview
- Current fiscal terms
- PSC
  - Tax stability
  - Bonuses
  - Royalty
  - Cost recovery
  - Profit oil
  - Corporate income tax (petroleum profit tax)
  - Marginal fields
  - Rentals and fees
  - 1 more item(s)...