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Nov 07, 2017 18:55 EEST
TIRANA (Albania), November 7 (SeeNews) – Albania is planning to restructure state-owned oil and gas company Albpetrol in order to cut costs, energy and infrastructure minister Damian Gjiknuri said on Tuesday.
The government intends to sell some of the company’s assets and cut staff numbers as part of the restructuring process, Gjiknuri said during a conference in Tirana, according to a press release issued by the energy and infrastructure ministry.
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Albpetrol has estimated that Albania has oil reserves of 220 million barrels and natural gas reserves of 5.7 billion cubic metres. The Patos-Marinza oil field near the southwestern city of Fier is the largest onshore field in continental Europe.
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