Albania strikes oil

I am indebted to journalist colleague and friend Barrie Farnsworth for sending me a press release announcing that Albania has discovered massive oil deposits in the Adriatic Sea.

This Balkan country already has one of the highest economic growth markets in south eastern European and this discovery is predicted to produce around one billion barrels of oil giving a huge boost to the economy.

Indeed, the discovery has led the Balkan nation to consider how it will best spend its new found fortune given that Albania earns 10% of gross production and makes 50% of earnings from oil sales according to the standard contract that the government uses with foreign companies searching for oil.

Ravin Maharajah, Partner of Lalzit Bay Resort and Spa, the 5 star luxury residential development, pictured below, on Albania’s Adriatic coastline, commented: “There are very high hopes for an oil boom in Albania.

"Indeed, foreign direct investment into Albania derived from global conglomerates Shell and Petromanas joining in partnership to explore for oil in the country will no doubt increase, making a real impact on the Balkan nation.

“As well as banking on oil, the European Bank for Reconstruction and Development (EBRD) will assist the Albanian government in September 2012 with a project that aims to rejuvenate Albania's outdated railways with a particular focus on rehabilitating the Durres-Tirana railway line seeing as 40% of Albania's population is based there.

"This will no doubt help push more tourism into the area further boosting the nation’s economic prospects.”

Maharajah continues: “As a testament to Albania's potential, our customer base is constantly growing with interest rapidly increasing in our 5 star resort.

“Indeed, the expectation of increased GDP growth as well as high visitor numbers in coming years thanks to a wider range of infrastructure projects such as the new railways, Lalzit Bay Resort and Spa will provide the perfect property investment opportunity for as little as €38,000.

Lalzit Bay Resort and Spa offers a premium, exclusive product to buyers who want the benefits of villa ownership including private gardens and terraces, exclusive services, and more privacy as well as a range of facilities including private swimming pools, a BBQ area, tennis courts and superb restaurants."

I wonder what on earth Communist dictator Enver Hozha would have thought of this economic boom and what he would have done with all this wealth if Albania had struck gold when he ruled from 1944-85.

 Would its history would have been so different?

To find out more about Albania read God’s Secret Listener published by Lion/Monarch of Oxford.

To buy a copy of the book, £6.50 including postage within the UK or £7.50 anywhere in the world email John@jbutterworth.plus.com