Albania, from largest oil reserves to the hub of EU, Dr Lorenc Gordani, 30 June 2017

Albania, from largest oil reserves to the hub of EU, Dr Lorenc Gordani, 30 June 2017

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Albania, from the largest continental onshore oil reserves in Europe, to the new natural gas bridge between the Balkans and Italy, by Dr Lorenc Gordani, 30th June 2017 [huge_it_slider id="7"] Petroleum and Gas Production: 1.4 mln ton/year Patos-Marinza Oil Reserves: 200 mln barrels Estimated Oil Reserves: 500 mln barrels Albania’s long history of oil production dates back some 2,000 years, when the Romans mined bitumen in the southwest (Apollonia, today the city of Fier) to caulk their ships. The first wells were drilled in the early 1900s, with Rockefeller’s Standard Oil and the predecessor of BP, Anglo Persian Oil Company, leading the expansion of Albania’s oil industry. In 1932, the largest European onshore oil field was discovered at Patos-Marinza, now operated by Bankers Petroleum. Crude oil production in Albania in…
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