section-67549d8
The initial geological reserves of crude oil calculated by the Albpetrol specialists during 1985-1990, were estimated at 437.645.143 ton crude oil, from which 81.025.885 ton are considered to be recoverable reserves.
Until 01.01.2018, 61.363.064 ton crude oil were produced in Albania, or 75.73% of the recoverable reserves and 14% of the geological reserves.
The exact value of recoverable reserves, taking into account the qualitative improvements in the oil and gas techniques over the last 20 years, are considered to be approximately 50-60% higher. This means that the value of the recoverable reserves should be estimated approximately at 110-120 million tons.