The oil and energy sector is one of the important sectors in the global economy that FK has sought to enter and invest in as one of the most important investment opportunities. The company has an expertise that can not be overlooked in this field as it was the strategic partner in Houston Oil Technology Company based in the United States of America.
Recently, FK Investments found its chance in the Republic of Albania, where it managed to acquire AMOIL, a company that owns a refinery for the production of oil derivatives; the most is bitumen from which the refinery produces limited quantities.
The current production capacity of the refinery ranges between 500 – 1000 tons per day of miscellaneous oil derivatives, with a capacity of 7000 barrels per day. The company aspires to raise production capacity significantly; therefore, the company adopted a plan to develop the refinery in three phases:
Phase 1: Is to qualify the current refinery and the implementation of an intensive program to ensure a smooth production at high efficiency capacity of 7000 barrels per day maximum, starting the first stages of actual production in September 2017.
Phase II: To raise the capacity of the refinery to reach a maximum of 20,000 barrels per day and will begin construction works in May 2018. FK investments already signed an agreement with the company that will work on developing the refinery at this stage.
Phase III: The establishment of a refinery with high efficiency and international standards and with double production capacity to be the leading refinery in the region. FK and AMOIL have been fully equipped for this stage and have completed the purchase of the necessary land. All the papers have been successfully completed and all procedures related to the necessary licenses have been done.
The company is currently considering offers from large and giant companies that have already expressed their interests in buying various derivatives and owning shares in the refinery.
FK Group is working through a vision to achieve and complete a high-level petroleum complex with a production capacity covering the needs of Albania and its neighboring countries. We are confidently moving towards that goal.