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Why Albania is THAT important to the Balkans

A couple of weeks ago, Director of IN-VR, Chryssa Tsouraki published an article on Albania’s importance to the Balkans region that went viral: “Albania is far too important for Europe’s energy security to be ignored or even underestimated. Some quick facts about Albania to familiarise yourselves: –  Patos Marinza: The largest oil field in Europe, operated by Bankers […]

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Pennine signs Velca Block PSA, anticipates into Albania’s energy industry.

 “Pennine” is pleased to announce that it has signed a Production Sharing Agreement (“PSA”) with Albpetrol Sh.A (“Albpetrol”) for the exploration and development of the Velca Block in Albania. The finalized PSA contains a license agreement signed by Pennine, Albania’s Ministry of Energy and Industry, and Albpetrol, the country’s state-owned energy firm, for a six(6)-year […]

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Pennine Petroleum Corporation, Albania’s oil company Albpetrol sign production sharing agreement

Pennine Petroleum Corporation announced that it has signed the main terms and conditions of a production sharing agreement for the Velca Block, in southern Albania, with licensee Albpetrol Sh. A. (“Albpetrol”), the national oil company of Albania. The Velca Block, covering an area of 153,215 acres (239 square miles, or 620 square kilometers), is located […]