22 March, 2016
Bankers Petroleum has announced the selling of 100% of its shares to Geo-Jade Petroleum Corp Chinese company. The Canadian company headquartered in Toronto operates in other states in the oil and gas sector and currently is the largest foreign investor in Albania.
According to the Director of the Albanian National Agency of Natural Resources, Dael Dervishi, such decision made by the company is not expected to affect its branches. However, Dervishi said that the Geo-Jade Petroleum Corp is known by the Albanian government and that the NANR is interested in having more information about the company.
Bankers Petroleum sold its shares for an amount of C$575 million ($442.34 million) to Geo-Jade Petroleum Corp. The Canadian company is the largest foreign investor in Albania since in 2004 when it first started operations for the extracting of oil and gas reserves in the Patos-Marinze onshore oil field.