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Bankers Petroleum withdraws from “threat” of arbitration, promises cooperation with government

2025-08-01 15:53:00, Aktualitet CNA

Bankers Petroleum withdraws from “threat” of arbitration, promises

Bankers Petroleum Albania Ltd. in a recent press release affirms that in full compliance with national institutions and authorities, it confirms its readiness to implement, without reservations, the Decision of the International Court of Arbitration (ICC) dated June 7, 2024, upheld by the Court of Appeal of Albania (Decision No. 479, communicated on July 1, 2025).

"Our legal teams are fully prepared to work together with the relevant Albanian institutions to ensure the comprehensive execution of this decision, in accordance with international standards to protect foreign investments and to ensure the successful implementation of a major energy project in Continental Europe, reflecting Albania's shared national and strategic interests," the bankers said in a statement.

With this announcement, Bankers Petroleum, one of the largest companies in the country, which manages the Pator Marinza oil field under concession and is under investigation by the Fier prosecution for tax evasion, appears to have withdrawn from the threats of the past few weeks to take the Albanian state to arbitration.

On July 22, Bankers announced that it had engaged legal teams both in Albania and abroad to co-lead the legal defense, both domestically and before international arbitration bodies.

In today’s announcement, Bankers states that it is following with keen attention the criminal investigations initiated by the Albanian authorities on 2 July 2025, in relation to several respected colleagues and former employees. “Throughout this process, we continue to engage openly with all competent institutions, guided by a spirit of transparency, mutual respect and respect for the law.
For example, under the leadership of our Chairman of the Supervisory Board, we plan to form an external team to conduct an in-depth self-investigation for the entire period, providing close cooperation and assistance to the Albanian authorities.

"We have high hopes for the integrity and fairness of the Albanian judicial system and remain hopeful that this matter will be handled with the impartiality and care it deserves. We also express our sincere desire that the current security measures affecting our team members be reassessed in a manner that protects the continuity of our operations and reinforces trust in justice," the statement said.

"As we progress in all directions; legal, operational and technological, we continue to be fully compliant with the laws of the Republic of Albania, the terms of our concession agreement, the ICC and applicable international standards. Our path is one of partnership and shared prosperity; focusing on protecting long-term investments, fostering innovation, caring for the environment and contributing decisively to Albania's economic growth.
We see our role not only as an energy operator, but as a trusted partner in the country's development journey, committed to progress, stability and a sustainable future for all Albanians", the announcement concludes./ Monitor.al