The National Agency of Natural Resources, represented by the Executive Director and representatives of the Hydrocarbon Directorate, participated in the 7th official edition of the Balkan Oil and Gas Summit, held in Budva, Montenegro on October 24-25, 2019.

The Summit provided a new opportunity for participants to meet counterpart institutions in the Balkan region in order to address all available spaces of hydrocarbon investment in the region, shed light on exploration activities, future projects, as well as other important programs for the region.

At this Summit, the Executive Director of the National Agency of Natural Resources presented the opportunities that Albania offers for oil and gas exploration and production, the most attractive free blocks based on their technical data, but also the blocks currently opened for applications for interested Companies. In his speech, Mr. Bylyku emphasized that Albania offers a favorable environment on licensing foreign investors to enter into hydrocarbon agreements with the Albanian state, considering its geological positioning, along with the legal framework and stability of fiscal system in this sector.

At the conclusion of this Summit, there were held successful meetings with several participating companies interested in investing in the hydrocarbon sector in Albania, with whom it is expected to further intensify contacts in the near future.