Speaking during his regular “Sy m’Sy” (Eye to Eye) Q&A segment on social media, the government head said the oil company Bankers Petroleum had caused “major problems” for the country and called on prosecutors to investigate the case independently.

“We won the arbitration, and Bankers now owes Albania 240 million euros,” Rama said. “It’s time for the Prosecutor’s Office to conduct a fully independent investigation. I commend the prosecutors who pursued this case and hope they uncover all wrongdoing within this company.”

Bankers Petroleum, formerly Albania’s largest foreign investor in the oil sector, operated the Patos-Marinza oilfield under a concession agreement. Rama said the contract, signed before his administration took office in 2013, was one of many inherited agreements that had imposed significant financial burdens on the state.

Rama defended his administration’s public-private partnerships (PPPs), citing major projects such as the Arbër Road, urban waste management, and the sterilization of medical equipment – all of which, he said, came at no cost to citizens.

“Our PPPs have allowed for vital infrastructure and healthcare improvements without financial burden on the public,” he said, noting that services such as medical testing and sterilization of surgical tools are now free and have significantly reduced post-operative infections.

Rama clarified that his criticism of Bankers Petroleum was not personal.

“I have no issue with any specific names behind Bankers or any other company. My concern is solely with the impact on the Albanian state and its people,” he added.

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The dispute, brought to arbitration by the Bankers, related to cost recovery proceedings under the 2004 license agreement and hydrocarbon agreement with Bankers relating to operations in Patos Marinza oilfield.

The Court agreed with Albania’s interpretation of important aspects of the agreements (contrary to Bankers’ claims).

The court ruling reads that over 236 million dollars of the costs claimed by Bankers and contested by Albania’s National Agency of Natural Resources have been rejected and declared irrecoverable.

The result of the dispute is that Bankers will have to pay to Albania sums on account of the Patos Marinza oil field, i.e. the profit tax payments.

Although the procedures took several years, Albania has already achieved this final, successful result, giving much clarity to important future operations in Patos Marinzë.

The Ministry of Infrastructure and Energy looks forward to continue to work with investors to utilize Albania’s assets in the most efficient way possible, beneficial to all parties involved and especially to the Albanian people, as well as to work within the highest social and environmental standards to ensure that such areas are properly maintained in accordance with international standards and properly rehabilitated at the end of their use. /p.s./

DP reacted regarding the obligations deriving from the arbitration courts, while on the other hand reminded Prime Minister Edi Rama’s statement that, “We have lost no arbitration case”.

“Imagine how many small and big problems for Albanians this amount would solve, which unfortunately will turn into a burden for the budget of every family, which will be forced to pay for the irresponsibility of Edi Rama. The amount of 447 million Euros will not go to hospitals, schools, kindergartens, investments in infrastructure, economic assistance to people in need, but to pay the damage caused by a minority that has destroyed the economy and is impoverishing Albanians,” said the DP.

Further on, in its reaction, the DP stated that on April 8, 2021 the Democratic Party has filed in SPAK the report on the “Becchetti” case. We expect it to be investigated with priority, because every hour of delay renders into irreversible economic damage to citizens.”/p.s./