David French, chief executive of Toronto and AIM listed (LON:BNK) () says the firm is aiming to ramp up oil production from its Albania field to 30,000 bopd by 2020.
Speaking at the World Oil & Gas week in London, the CEO exlains that to date at Patos-Marinza, the largest onshore oilfield in Europe, the firm has invested over US$1.7bln dollars in Albania, more than doubled reserves and grown production to over 20,000 bopd.
The firm remains fully funded and cash generative, with margins of US$25 per barrel even with oil prices around US$50.