Albanian Oil Privatization

Nga Klevis Llaha 09 May 2015

The Minisry of Energy and Industry has developed the legal framework for the extraction of 13 oil blocks for exploitation by the private sector. Petroleum Policy Director at the ministry, Dritan Spahiu, said in an interview for SCAN TV that the decision of the Council of Ministers No. 335, has enabled the transfer of ownership of these blocks from Albpetrol to the Ministry of Industry. Thus enabling the preparation of the privatization process of these areas.

From the areas that will be used for detection operations, there will be a block in the sea as

well. Albania is estimated to have oil reserves amounting to 400 million tons, while only 10%

of this amount has been utilized so far. However, there have not been conducted further

specific studies after the 70’s.

In the meantime, the new discoveries in the district of Berati have attracted high interest for

investments in our country from international companies.