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TIRANA, Dec 3 – The Albanian Economy Ministry, Albpetrol and the National Agency of Natural Resources signed a deal with IEC Visoka Inc company for the Visoka oil resource on Wednesday.
Visoka is 13 kilometers southeast of Fieri city and may produce up to 40 tons of oil a day.
The company is to invest some $600,000 in the first two years when it is to evaluate the oil well.
During the second stage, investment may increase depending on the results. That will continue for the next 30 years.
The company is also to train the Albpetrol administration.
