11,000 barrels per day, Bankers aims to boost production and investments to pre-pandemic levels

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The daily production in the oil field of Patos-Marinza is about 11,000 barrels per day, meanwhile, in the first eight months of the year it retrieved 440,000 tons.

According to the concessionary company Bankers Petroleum Albania, in the whole field, there are currently over 630 active wells, where more than 70% of them are production wells and the rest are injection and disposal ones.

The company plans to increase the investments in the oilfield in order to increase production and reach pre-pandemic levels.

In September 2021, Brent oil prices surged over US$80 / barrel compared to around US$40 / barrel last year, which enables the increase of investment in this sector.

In total, during the first 8 months of 2021, about 440,000 tons of crude oil were produced in Patos-Marinza.

Bankers’ executives are optimistic that production will improve in the upcoming months, not only thanks to increased investments, but also to the improved efficiency in day-to-day oil production operations.

Bulk portion of the crude oil produced from Patos-Marinza oilfield has been exported to foreign markets due to the low capacities of the domestic refineries.

The oil produced in the Patos-Marinza field accounts for over 90% of the total oil domestically, while the company has paid over $800,000,000 in taxes since 2014.

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