Terraoil owns and operates conventional oil fields located in a prolific region onshore western Albania.
Terraoil has established a strong foothold in Albania since 2011 with the operational takeover and Production Sharing Agreement (PSA) of the Visoka oilfield. Since then, Terraoil has produced over one million barrels of oil just from Visoka. This impressive entrepreneurial performance motivated the Albanian government to select Terraoil as the best foreign investor by the Albanian government in 2016. Terraoil is currently adjusting its strategy for the pandemic environment and has recently made several decisions by the Board of Directors. This has led Terraoil to implementing an acquisition and development strategy to increase production of 2P reserves to over 20,000 bopd over the next few years. Terraoil is screening additional producing oil and gas acquisition targets in Europe and Eurasia.
News & Media
Terraoil Announces Continuation of Drilling Operations on Visoka Block
The new drilling activities are executed according to the work program for Visoka.
Terraoil announces Approval of CHF 19.3 million KER and Key Upcoming Milestones
Terraoil announces CHF 19.3 million as capital contribution reserves (Kapitaleinlagereserve) and key corporate milestones to support development of the company.
Terraoil to participate in the upcoming virtual Oil & Gas Automation and Digitalization congress
Terraoil’s executive leadership team to participate in the upcoming virtual AUTOMA 2021 | Oil & Gas Automation and Digitalization congress.
Terraoil business interview with the executive leadership team following the COVID-19 pandemic
Terraoil’s executive leadership provides update via a Zoom-recorded interview.
Terraoil Receives Approval for 2021 Work Program
Project update: Terraoil’s 2020 and 2021 Visoka work plan approved by regulatory body (AKBN) and state-run Albpetrol.