Albpetrol

What Albpetrol does

Albpetrol sh.a is Albania's 100% state-owned petroleum company, established on 6 April 1999 under Law No. 7746 (1993) and reporting to the Ministry of Infrastructure and Energy. The company inherited all domestic oil and gas assets and reserves, and today administers 11 oil fields and 6 gas fields through four production centers located at Patos (headquarters), Fier, Ballsh, and Kuçovë. It operates 1,202 active wells producing approximately 206 tons of oil per day, with 17.26 million tons of remaining recoverable oil reserves and 17.3 billion Nm3 of recoverable gas (as of 01.01.2023); the Patos-Marinzë field is described in U.S. EIA reporting as the largest onshore oil-bearing zone in Continental Europe.

Core activities span upstream production, midstream sales, and downstream services. Crude oil and associated gas are produced using conventional methods — submersible piston pumps, Progressing Cavity Pumps (PCP), jet pumps, self-flowing wells, and Enhanced Oil Recovery techniques including alkaline-water injection, CO2 injection, steam injection, and fireflood. Crude is monetized through standardized public auctions (ankande) priced at 78.18% of Brent plus an adjustment factor, with typical tender sizes near 100,000 tons and 12-month execution windows. Albpetrol also monitors hydrocarbon agreements with eight international concessionaires (Bankers Petroleum, Sherwood International, Anio Oil & Gas, Delvina Gas Company, Terraoil Swiss, Fin Pek Petroleum, EDG Natural Gas, and formerly Transatlantic/Phoenix), supplies licensed electricity to qualified non-household customers in Patos, Ballsh, and Fier municipalities, and runs five captive service centers (mechanical manufacturing at Kuçovë, emergency/firefighting, heavy transport, geological/geophysical services, and electrical distribution).

Revenue is generated from four streams: crude-oil auction sales (transaction-based), gas production and sales, regulated electricity supply, and mechanical/technical services. Disclosed revenue totaled ALL 7.07 billion in 2022 with a projected ALL 6.84 billion in 2024 (≈US$70–75M at ~95 ALL/USD). The company's strategic position rests on its monopoly regulatory authority over Albanian hydrocarbon agreements, port access via Durrës and Vlorë for Mediterranean export, and a 1,691-employee workforce combining multi-decade practitioners with a restarted Young Professionals hiring pipeline. Production has declined precipitously from the 1974 peak of 2.25M tons/year to ~21,150 tons projected for 2026, framing the company's central operating challenge as reservoir depletion offset by EOR, new exploration block development, and selective reconsolidation of concessioned acreage.

Name

Albpetrol

Legal name

Shoqëria "Albpetrol" SH.A

Website

https://albpetrol.al

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Albpetrol sh.a is Albania's state-owned oil and gas company (Ministry of Infrastructure and Energy), administering 11 oil fields, 6 gas fields, and ~1,202 active wells. It sells crude via public auctions, monitors eight international concessionaires, supplies electricity to industrial customers, and operates five captive service centers.

Ownership category

akta.pro rank

Product category

Oil and Gas Production

NAICS

Oil and Gas Extraction (211), Support Activities for Oil and Gas Operations (213112), Crude Petroleum Extraction (21112), Support Activities for Mining (2131)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Mineral Rights, Leasing & Land Management (EUALAAAB)

akta.pro secondary industry

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

Keywords

• Crude oil production
• Natural gas extraction
• Enhanced oil recovery
• Oilfield services
• Petroleum exploration

Headquarters

HQ city

Fier

HQ country

Albania

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain, Others

Revenue model

1. Crude Oil Sales: Albpetrol generates primary revenue from the sale of crude oil produced from its oil fields including Patos, Ballsh, Kuçovë, Cakran-Mollaj, Gorisht-Kocul, and Amonicë. Sales are conducted through public auctions.
2. Natural Gas Production and Sales: Production and sale of associated gas and natural gas from fields in the Albanian coastal zone and Adriatic Lowland. Associated gas is collected through a closed system in existing oil fields.
3. Electricity Supply Services: Since 2003, Albpetrol holds rights for electricity supply to qualified customers, electricity trading, and natural gas transmission. The company provides uninterrupted electricity supply to non-household entities in Patos, Ballsh, and Fier municipalities.
4. Mechanical and Technical Services: The Mechanical Plant in Kuçovë and other service centers provide mechanical manufacturing, repairs, electrical services, geological services, and transportation services to support hydrocarbon operations and third parties.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Albpetrol is Albania's state-owned oil and gas enterprise, engaged in the exploration, extraction, and production of crude oil and natural gas from onshore fields including Patos-Marinzë, Gorisht-Kocul, Ballsh-Hekal, Amonicë, and Finiq-Krane. It sells crude oil via public auction, markets associated natural gas and electricity generated from that gas, and provides in-house oilfield services (mechanical, electrical, geological, transport, security, emergency) to support both its own operations and external operators in Albania.

Product overview

Albpetrol sh.a is Albania's state-owned petroleum company, established on April 6, 1999, which inherited all oil and gas assets and reserves in Albania. The company operates a multi-product portfolio comprising its core activities — crude oil production, natural gas production, crude oil sales via public auction, and monitoring of hydrocarbon agreements with concessionary operators — supplemented by six service centers: Uzina Mekanike Kuçovë (mechanical manufacturing and repair), QEMNG (emergency response, firefighting, and environmental services), QFT (technical transport and logistics), QSHGJ (geological and geophysical services), and QFSHE (electricity supply and distribution). The company also holds a license for electricity trading and supply. Albpetrol directly operates six oil fields: Patos-Marinzë (partially, with Bankers Petroleum), Kuçovë (partially, with Sherwood International), Ballsh-Hekal (with Anio Oil & Gas), Cakran-Mollaj, Gorisht-Kocul, and Amonicë.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude oil (Patos-Marinzë and other fields)

Quantifiable outcome

• 21,150 tons crude oil production (2026)
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• EDG Natural GascoreStrategic or Co-development Partner · 9 June 2022Hydrocarbon agreements for development and production in Povelçë and Frakull gas fields approved by Council of Ministers Decisions No. 402 and 401 dated 09.06.2022.
• Phoenix PetroleumminorStrategic or Co-development Partner · 1 January 2017Albpetrol resumed administration of the Amonicë oil field from Phoenix Petroleum in early 2017.
• Fin Pek PetroleumcoreStrategic or Co-development Partner · 16 August 2013Hydrocarbon agreements for development and production in Pekisht-Murriz and Finiq-Krane fields approved by Council of Ministers Decision No. 699 dated 16.08.2013.
• Transatlantic AlbaniaminorStrategic or Co-development Partner · 1 January 2013In early 2017, Albpetrol resumed administration of Cakran-Mollaj and Gorisht-Kocul oil fields from Transatlantic Albania as well as the Amonicë field from Phoenix Petroleum.
• Terraoil SwisscoreStrategic or Co-development Partner · 13 December 2008Hydrocarbon agreement for the development and production of hydrocarbons in the Visokë oil field dated 13.12.2008, approved by Council of Ministers Decision No. 90.
• Sherwood International LtdcoreStrategic or Co-development Partner · 4 September 2007Hydrocarbon agreement for the development and production of hydrocarbons in the Kuçovë oil field. Agreement dated 04.09.2007, amended in 2010. Part of Kuçovë field is under Albpetrol administration while the rest is operated by Sherwood under concession.
• Anio Oil & GascoreStrategic or Co-development Partner · 19 July 2007Hydrocarbon agreement for the development and production of hydrocarbons in the Ballsh-Hekal oil field dated 19.07.2007, approved by Council of Ministers Decision No. 509.
• Delvina Gas Company LtdcoreStrategic or Co-development Partner · 19 July 2007Hydrocarbon agreement for production, development, and exploration of hydrocarbons in the Delvinë gas field dated 19.07.2007, approved by Council of Ministers.
• Bankers Petroleum Albania LtdcoreStrategic or Co-development Partner · 19 June 2004Hydrocarbon agreement for the development and production of the Patos-Marinzë oil field. Original agreement dated 19.06.2004, amended in 2008 and 2014. Albpetrol as state authority monitors and oversees operations under this partnership.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• INA (Industrija nafte): Croatia's national integrated oil and gas company. Comparable to Albpetrol as a state-owned regional E&P operator in the Balkans with upstream production, refining, and retail operations across Southeast Europe — a similar institutional model and geographic positioning.
• OMV Petrom: Romania's largest integrated oil company (majority-owned by OMV). Comparable to Albpetrol as a regional integrated E&P operator with significant onshore production in a Balkan country and historical state-ownership characteristics.
• Romgaz: Romania's largest natural gas producer, majority state-owned. Comparable to Albpetrol for its state-owned natural gas production focus, with 17.3 billion Nm3 of recoverable gas reserves making Albpetrol's gas portfolio similar in scale relevance to Romgaz's operational profile.
• ENI: Italian multinational oil and gas major with historical and ongoing interests in the Eastern Mediterranean and Adriatic region. Comparable to Albpetrol as a broad incumbent operating in overlapping geographies, though at significantly larger scale and with global operations.
• MOL Group: Hungarian-headquartered integrated oil and gas company with significant CEE operations. Comparable to Albpetrol as an integrated regional E&P operator with upstream production, refining, and downstream activities across Central and Southeast Europe.
• TPAO (Turkish Petroleum): Turkey's national oil and gas company with significant upstream operations and government ownership. Comparable to Albpetrol as a state-owned E&P operator in the broader Eastern Mediterranean/Balkan region with similar institutional structure and government backing.
• Hellenic Petroleum: Greece's largest oil refining and marketing company with upstream interests. Comparable to Albpetrol as a regional oil company operating in the Eastern Mediterranean with refining and downstream capabilities serving Southeast European markets.
• NIS (Naftna Industrija Srbije): Serbian state-controlled oil and gas company with upstream production and refining. As a Balkan state oil company of similar institutional character to Albpetrol, it provides a comparable reference point for state-owned E&P operations in the region.

Direct peers

• Bankers Petroleum Albania: Operates the Patos-Marinzë oil field under a 2004 hydrocarbon agreement with Albpetrol. Bankers Petroleum is Albpetrol's closest direct peer — it extracts crude oil from the same Albanian reservoir system under concession, making it the most directly comparable operating peer in the country.

Regional players

• Transatlantic Albania: Previously operated the Cakran-Mollaj and Gorisht-Kocul oil fields under concession before Albpetrol retrieved administration in early 2017. As a former Albanian E&P operator working the same geological formations, it is a regional peer with directly comparable operational scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Albpetrol