Albpetrol Sh.A.
Oil & Energy - Patos, Fier, Albania
Albpetrol Sh.A. Senior Management
Albpetrol Sh.A. Details
Albpetrol It is a joint stock company with 100% of shares owned by the Albanian state. Company headquarters is located in the town of Patos. In 2014, Albpetrol has also opened a representative office in Tirana. The main role of the company is the production and marketing of oil products and monitoring of Petroleum Agreements. Albanian oil history begins in 1918, when the Italian geologist Leo Madalena drilled the first well near Drashovicë (Vlora). The well reached the depth of 200 meters and had positive results, although only small amounts of oil was extracted. The results of the first well attracted the attention of big companies of the time, such as Anglo-Persian "APOC Oil Company" and Americans "Standard Oil". Since this time,in Albania we have more than 5650 oil and gas wells. Actually, there are 12 known sources of oil and 5 natural gas deposits. Only in the area of Patos-Marinez, in an area of 44 thousand hectares, it is the largest oil-bearing zones in continental Europe. Patos-Marinez underground is estimated to have about 5.4 billion barrels of crude oil. Albpetrol Society was created by the Government Decision no. 159, dated 20.03.1993, with 100% state capital, which operates according to norms and rules of the market economy, with the subject: Research and production of hydrocarbons, which includes full cycle of seismic, geological, mechanical, geophysical, research, extraction, processing and marketing of petroleum products
