6.250
%
Neutral
44
mm boe
81
%
Country risks continue to improve, helped by better tax collection, fiscal tightening and progress towards EU accession following Edi Rama's fourth-term win in 2025. For oil & gas, the onshore environment (notably Shell's licences and the Patos-Marinza heavy-oil field) is broadly supportive, although corruption and permitting delays persist. Outlook maintained because reform momentum is offset by persistent governance weaknesses. Outlook: Neutral. Risk premia unchanged at 6.25%.
October 7, 2026
Europe - East
mm bbl
bcf
South eastern Europe, bordering the Adriatic Sea and Ionian Sea, between Greece to the south and Montenegro and Kosovo to the north.
PSC/PSA
Royalty rates and profit oil splits are based upon project R-Factors. Cost recovery ceilings are negotiable.
Albania is an EU candidate country. Prime Minister Edi Rama's Socialist Party won a fourth consecutive term in May 2025, and the government is targeting completion of accession negotiations by 2027. The US Investment Climate Statement and UK Overseas Business Risk guidance note an open stance towards FDI, but cite corruption, limited judicial capacity (despite the ongoing vetting reform), property-title disputes and informality as persistent risks. The country hosts continental Europe's largest onshore oilfield, Patos-Marinza (heavy oil), and is crossed by the Trans Adriatic Pipeline.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
© 2024 Oil & Gas Advisors Limited
Website by Rugby Web Design
