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 Initial Production Test Results Since Resuming Drilling Operations on Visoka Block
Promising initial production test results show 0% water cut and strong pressure support.
Terraoil Announces Offering of up to 24’000’000 Shares Following Approval of Prospectus by the SIX Prospectus Office
Proceeds from the offering to be used to fund the work program for its oil and gas properties in Albania, to reduce debt and for general corporate purposes and working capital needs.
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.