Economy of Albania - Oil and Gas

Oil and Gas

In early 2008, vast and untouched deposits of oil and gas were discovered in northern Albania. The deposits are estimated at a total of up to 2,987,000,000 barrels (474,900,000 m3) of oil and 3.014 trillion cubic feet of natural gas. The announcement was made by the corporation Gustavson Associates LLC, engaged by Manas Petroleum Corporation, which has a contract with the government of Albania to explore the northern parts of the country for oil and gas deposits.

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