Rama: Albania, the new oil front

Present at Turkey's World Oil Congress, Prime Minister Edi Rama has declared that Albania can turn into an investment destination for large companies.

Our country has untapped reserves that can make us the new oil front, away from the heat of the Middle East. Our government co-operation with private sector companies is very important to ensure a continued increase in the oil sector”, Rama has said.

Rama has stressed that his government's main focus is on increasing supply for Albanian consumers and continuing progress towards the integration of the Albanian energy market into the Balkan market and then on to the European one, initiated by strategic position and large reserves.

Because of its geographical location, Albania will be found along one of the world's largest energy routes, which is TAP. Also, we find ourselves in one of the largest oil fields <x1-onstry” in Europe, with 220 million barrels of oil”, Rama said.

According to him, about 1.1 million tonnes of crude oil are currently produced in Albania, or 6.5 million barrels per year.

“We have an increase in oil production, blocks and refining capacity. We are also in the phase of Albpetrol privatisation and restructuring, encouraged by the presence of “Shall” and the latest news that a very large gas source has been discovered in Albania”, Rama said.

He added that successful gas pipeline outcome remains in this important situation TAP, which will provide EU support and can be extended through the Adriatic-Ionian branch, as well as a second branch to cross Albania -Kosovo-Serbia.

I believe that we have all the opportunities to turn Albania into the new oil front, we have a clear strategy and what is most important is gas and oil reserves. But to succeed, we must work together. We have to stick together”, Rama added, writes Top Channel.