TRANSOILGROUP AG, a Swiss company was incorporated in August 2010. Its two principal shareholders have many years of experience in the oil industry.

TRANSOILGROUP, under a production sharing agreement, produces crude oil at the Visoka oil field which is located in Albania. The agreement is valid for 25 years beginning February 2012 and is extendable for an additional five years.

Production commenced in February - March 2012 with the take over of 243 existing wells of which 13 were producing.

More »

In 2012 we invested in infrastructure, including roads required to access the wells, on site storage for the crude oil, pipelines to transport the crude oil within the oil field and offfice building for our staff and engineers. Whilst our production increased since the take over to over 60 MT per day in March 2013, our main focus was on testing the progressive cavity pumps (PCP’s) and stabilising the oil field rather than increasing production.

In 2012, the decision was made to focus our attention on developing the Visoka oil field. As a result, we have not pursued the development of the refinery and trading opportunities identified earlier.

In 2013, TRANSOILGROUP, will continue to focus on increasing oil production. The testing of the PCP’s, the drilling of new wells and the stabilisation of the oil field will be the principal activities for the year.
We are also reviewing opportunities for the acquisition of production rights in other oil fields.

The Board of Directors of TRANSOILGROUP AG consists of 4 members. Two of the members are executive officers of the Company. All members are professionals with experience in industry, the economy and/or the oil business. We believe the mixture of Russian and European management provides the Group with an edge in the international energy business.

More »