2022 Results, Bankers Produced 540 Thousand Tons of Crude Oil With the New Wells!

Investments Increased and Improved the Capital of the Company

Oil production in the Patos-Marinza field reached about 540 thousand tons last year as Bankers restarted the drilling of new wells. The investments were increased during 2022 due to the higher prices of oil in international markets which improved the capital of the company.

Bankers are the largest oil production company, which represents about 90% of the total oil produced in the country and share a significant part in Albanian exports.

At the end of the year, royalty payments reached over $ 48 Million. Compared to 2021, the company has increased royalties payments to the Albanian state by 50% reconfirming its position as one of the biggest taxpayers in the country. Royalties paid by Bankers dominate the customs budget representing around 80% of the total royalties paid in Albania.

In total, since the start of its operations in Albania, Bankers has paid more than 675 Million US$ to the Albanian state budget.

While in total, the taxes paid to the government amounted to around 890 Million US$ at the end of 2022.

Bankers will continue to be long-term value investor and it is mutually beneficial and win-win with the Albanian government. Therefore, it has ambitious plans for the years to come. Besides, drilling new horizontal wells Bankers has also drafted a new strategy to produce with advanced technologies, such as the thermal method, which increases the energy in the layers and pushes more oil to the surface.

Important steps are being taken in environmental projects, as Bankers has already started to treat oil sludge and has ambitious plans to treat all the sludge which is produced during the hydrocarbon operations.

“Other important projects to follow this year are the modernization of the energy network, a process that is important in improving environmental standards“.

Results from 2004 up to 2022

890 Million US$- total taxes paid

675 Million US$- royalties paid

20.7 Million US$- local taxes paid

49.4 Million US $- excise

25.3 Million US$- social insurances