The Bidding Assessment Commission at the Ministry of Energy has
officially opened the offers for the sale of the last state owned oil
company, Albpetrol.
From 19 societies that showed interest, only six of them presented a bid with the highest price of 850 million EUR offered by a US investment company from Chicago, under the consortium “Vetro Silk Road Equity”.
The second biggest bid was from consortium Amber Shine, with 790 million EUR. The Canadian “Bankers Petroleum” who exploit the Patos Marinza oil resource offered 303 million EUR. The Russians of Gazprom had the lowest bid with 52 million EUR, while an Arabian company from Dubai, Ecologb International did not present a price.
The Deputy Minister of Economy, Trade and Energy considered the process of receiving the bids as closed. The Commission will evaluate the bids, according to the law procedures.
“Albpetrol” is an anonymous company with 100% of the shares owned by the Albanian government and has 4500 employees. The government decided to sell 100% of the shares, and even the rights to negotiate the agreements for searching for oil and supervising the concessions.
A few weeks earlier the government added two other licenses for the transportation
Pak javë më parë qeveria i dha ‘Albpetrol’ edhe dy licenca të reja për transportin dhe shpërndarjen e gazit, të cilat tani do i përkasin të gjitha privatit. Me privatizimin e ‘Albpetrol’, qeveria heq plotësisht dorë nga pronësia në fushën e naftës, që tashmë do të jetë e gjitha private, në kërkim, rafinim dhe prodhim.
Criteria for winners
The sale of Albpetrol is the last strategic privatization of Albania. The government has decided that the winner must have at least five years of experience.
If there will be more than one company, one of them must have 5 years of experience and own at least 30% of the total shares.
The qualification criteria demand that the company must have a paid capital of 80 million USD and the net worth must be at least 100 million USD.
The government has also decided that the financial bid must have 75% of the points while the technical guarantees 25%.
The Ministry of Economy gave no details about the assessment procedure, since the privatization law has no legal limit. But the commission will review the validity of offers for seeing if they fulfill the legal qualification criteria. All offers presented this Friday in the tender are considered valid only after passing this phase. The official result will be given only after this for the winner that will buy 100% of the Albpetrol shares.
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