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EEC Group sign oil production sharing agreement

04. December 2008. | 08:12

Source: Albanian Economy News

Albanian crude oil producer Albpetrol signed a production sharing agreement for redevelopment of one of its oil sources at Visoka, near Fieri in south of Albania.

Albanian crude oil producer Albpetrol signed a production sharing agreement for redevelopment of one of its oil sources at Visoka, near Fieri in south of Albania, Ministry of Economy announced on Tuesday.

The new company, IEC Visoka INC is owned by EEC Group, according to the ministry’s press release, represented by Mr. Ylli Gjoni and Dr. W. Hertel. Further datas for this company are not viable.

Visoca source was discovered in 1963. It production currently is 240 barrels-per-day and it is a heavy oil source. The new owner will invest 600.000 USD to redevelop it.

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EEC Group sign oil production sharing agreement

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