Oil and gas activity 2011-2014
Crude oil production in Albania began in 1929 with 750 tons of crude oil. After World War II production increased steadily and recorded the highest pick in 1974 with an annual production of 2.25 million tons equivalent to 38,408 barrels/day). In the 80s oil production fell under 1 million tons per year and did not pick up until 2012.
The chart on the left presents oil production trend from 1993 to 2014. Oil production through petroleum agreements increased 3 times in the last five years.
AKBN reported crude oil production respectively at 1,203,637 ton and 1,386,124 ton in 2013 and 2014.
Total production worth is estimated at USD 530 million in 2013 and USD 549 million in 2014. Production value is estimated using annual average sales prices reported by Albpetrol respectively at USD 441/ton in 2013 and USD 396/ton in 2014.
Oil produced by private licensees operating in the petroleum sector represented 97% of total oil produced in 2013 and 2014. This production was extracted mainly from the Patos-Marinza oil fields, operated by Bankers Petroleum, respectively 88% of production in 2013 and 87% in 2014.
AKBN reported in 2013 and 2014 the output of gas extracted through petroleum production respectively at 22.5 million Nm3, and 17.7 million Nm3.
Employment in the upstream oil and gas sector
MEI reports that in the 70s and 80s, when the petroleum upstream and downstream sectors were entirely owned and administered by the State, the sectors employed about employed about 25,000 staff.
Based on the data reported by Albpetrol and AKBN, at the end of 2014 the upstream petroleum sector employed about 3,109 staff, where Albpetrol represented the largest employer among all with 66%.
Employee number in the sector dropped by 38% in the last four years. These changes resulted due to transfer of production operations from Albpetrol to the private oil companies in accordance with PSA in force.