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. Last Updated: 07/27/2016

Albanian Oil-Rig Deal

Albania's state oil company Albpetrol will soon sign a contract worth up to $60 million with a Maltese rig service firm to build a service base to repair offshore oil-rigs, according to the Energy Ministry.

The joint venture will be called the Medserv Albania Company. Malta's Medserv Ltd will invest up to $60 million and Albpetrol will inject assets in the form of 12 hectares of land at the planned base in Vlora, 140 kilometers southwest of Tirana.