Bankers' strategy is focused on petroleum assets that have long-life reserves with production and reserve growth potential. Employing its knowledge base and technical expertise, the Company is working to optimize its existing assets from the application of primary, secondary and enhanced oil recovery (EOR) extraction technologies, creating long-term value for shareholders. This will be accomplished through the attainment of its main objectives: increasing reserves production, cash provided by operations and net asset value.
In pursuing the long-term growth strategy, Bankers is primarily focused on accessing the heavy oil upside from its Albanian assets, which includes the effective implementation of the Patos-Marinza development plan as well as applying EOR and secondary extraction techniques to increase the field's recoverable reserves.
Bankers has created a development plan for the Patos-Marinza oilfield, having an assessment of 5.4 billions barrels of original-oil-in-place, that entails increased capital expenditures for re-activation of existing wells, vertical and horizontal infill development drilling, as well as the initiation of waterflood development and thermal programs, to substantially increase production and reserves.
Bankers also holds full rights to the Kuςova oilfield in Albania, withs 297 million barrels of original-oil-in-place. Bankers will be focused on waterflood recovery techniques to extract and enhance the remaining recoverable reserves.
In 2008, Bankers acquired an exploration license for a 185,000 block immediately west of Patos-Marinza.