(MENAFN) Chicago-based consortium Vetro Silk Road Equity has made a bid for Albanian state oil company Albpetrol for USD1.07 billion, AFP reported.
This was the latest and largest offer for Albpetrol. Three other consortiums have made acquisition offers for the firm including, Amber Shine at USD1.01 billion, Bankers Petroleum Canada at USD389.5 million, Chinese Business Win at USD381.85 million and JSC Gazprom Neft at USD66.63 million.
Albpetrol produces at least 135,000 tons of oil per year and employs some 4,000 people.
Sokol Dervishaj, deputy economy and energy minister, said that the administrative commission in charge of the sale will examine the offers and announce the decision soon.
To make the company more valuable, the government has given Albpetrol the right to build a refinery and licenses to transport and distribute natural gas.
The successful bidder will obtain all of Albpetrol's above-ground assets, including oil and gas fields, with an estimated value of USD412.6 million and the right to explore and exploit oil and gas in the Albanian territory for 25 years, the government has said.
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