Albania: Bankers Petroleum temporarily halts production

22. June 2016. / SEE Energy News

According to the announcement by Canadianbased oil company Bankers Petroleum, it has started to temporarily shut-in its production on 3 June in Albania due to business interruption at the Petrolifera Italo Albanese (PIA) Terminal port facility near Vlore.

The suspension of this export facility was due to the crude oil leak which occurred on 22 May. The leak has been cleaned, however, all operations at the terminal have been suspended while local authorities conduct an investigation into the incident.

The suspension led to the shortage of crude oil storage both at the port facility and the PatosMarinza oil field. According to the company, the suspension should be lifted in the following days, which should enable Bankers Petroleum to resume regular operations at the terminal.

Bankers Petroleum achieved a production average of 17,363 barrels of oil per day in the first quarter of 2016, which is 4 % lower than the average of 18,137 barrels of oil per day achieved in the last quarter of 2015 and 12 % lower than the average production in the first quarter of 2015. In the first quarter of 2016, oil sales amounted to 17,280 barrels of oil per day on average, compared to the sales of 18,558 barrels of oil per day in the fourth quarter of last year, transmits Serbia-energy.eu

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