GENERAL OVERVIEW

Albania is an oil and gas bearing country. It is almost one century that Albania is producing significant petroleum quantities. Petroleum operations in Albania started early 1800 when the first geological surveys have taken place. Later, early 1900 petroleum operations were intensified and a lot of oil and gas fields were discovered. The cooperation with international petroleum industry has started around 1900, when some concessions were granted by Albanian government to the most known petroleum companies of the time. After 1990 several licensing rounds were organized and a number of petroleum agreements with foreign companies were approved. Petroleum operations carried on during these times produced also a great number of data that are used for evaluation and planning of the current petroleum operations. AKBN is promoting the free areas. The conduct of petroleum operations is possible thanks to a specific and very effective legal framework in petroleum sector. A suitable institutional organization is in place in petroleum sector. There are specific licensing procedures issued by AKBN that are clear and make possible a time save in this process.