Transoilgroup AG completes takeover of Visoka oilfield
(firmenpresse) - TRANSOILGROUP AG / Key word(s): Energy/
Transoilgroup AG completes takeover of Visoka oilfield
DGAP-Media / 14.02.2012 / 14:19
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Press Release
Transoilgroup AG completes takeover of Visoka oilfield
St. Gallen / Switzerland, February 14, 2012 - Transoilgroup AG confirmed
today that it has completed the takeover of 243 wells plus the
infrastructure and all other assets forming a part of the Visoka Oilfield.
The official documents were signed on February 7, 2012 by the Albanian
state oil company Albpetrol and the Albanian subsidiary of Transoilgroup
AG.
The Albanian Minister of Economy and the General Director of the National
Agency of Natural Resources (AKBN) were satisfied that the handover of the
Visoka oilfield was finally completed. In a meeting on February 10, 2012
the Minister expressed his confidence that it will now be possible to
increase the production of the Visoka Oilfield and the prosperity of
Albania.
According to Transoilgroup AG's CEO, the corporation intends to initially
invest on development and production at Visoka Oilfield 20 million US
Dollars, with a total budget of 80 million US Dollars for the next 3 years.
The CEO thanked all parties involved, in particular the Albanian
Government, the Minister of Economy and the AKBN's General Director, he
said:
'Transoilgroup AG is very pleased to have received the opportunity to
develop, exploit and to test its experimental Hertel Technology on the
Visoka Oilfield.'
Although the use of the Hertel-Technology is not a condition under the
Agreement for the development and exploitation of the Visoka Oilfield, the
parties are confident that this new technology has the potential to start
an energy revolution to change the oil and electricity balance of the
world.
Official Links to the Albania Government:
http://akbn.gov.al/index.php?ak=details&nid=55
http://akbn.gov.al/index.php?ak=details&nid=55#Scene_1
Contact: Peter Krempin (CEO), tel. +41 71 544 01 20,
Mail: info(at)transoilgroup.com
End of Media Release
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Datum: 14.02.2012 - 14:19 Uhr
Sprache: Deutsch
News-ID 114316
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