Law No. 7853 amending and supplementing Law No. 7746 on petroleum. Country/Territory Albania Document type Legislation Date 1994 Source FAO, FAOLEX Subject Mineral resources Keyword Oil Mining Exploration Contract/agreement Authorization/permit Geographical area Europe, Europe and Central Asia, Mediterranean, Southern Europe Abstract This Law lays down several amendments and addenda to Law No. 7746 of 1993 on petroleum. In particular, it adds a specific provision concerning the validity of the Albpetrol Agreement, according to which the competent ministry will issue a licence to Albpetrol to explore, produce and develop petroleum in the area defined in the contract pursuant to the terms and conditions stipulated therein. Further to the Ministry’s approval, the Albpetrol may transfer its rights to other financial international institutions or legal persons, local or international. It may enter into agreements with these bodies, authorizing the other party to explore, develop, and produce petroleum in the areas defined in the contract. Full text Albanian References - Legislation Amends Law No. 7746 on petroleum. Legislation | Albania | 1993 Keyword: Energy conservation/energy production, Natural gas, Contract/agreement, Oil, Mining, Exploration, Authorization/permit Source: FAO, FAOLEX