Oil and gas sector: Navigating business operations and regulations
The American Chamber of Commerce in Albania held a meeting with the head of the National Natural Resources Agency (AKBN), Executive Director Adrian Bylyku. Discussions focused on opportunities for institutional cooperation in the oil and gas sector, which is important not only for domestic businesses but also for foreign investments.
AmCham Executive Director Ilir Trimi and the heads of the relevant AmCham committees, Alketa Uruci, Kledi Kodra and Adrian Shehu, took part in the discussion.
The meeting focused on promoting and developing investments by American businesses in the sectors that are covered by the National Natural Resources Agency. AmCham representatives informed the head of AKBN, Mr. Bylyku, on the issues member businesses face, especially in the oil and gas sector and the possibilities of cooperation between the agency and AmCham members.
AmCham has a significant number of member companies that operate in the oil and gas sector and appreciates the importance of the sector in the domestic economy. As a result, AmCham is interested in working together with AKBN to address concerns. AmCham representatives informed Mr. Bylyku about common issues that have been addressed in the past, such as the VAT refund for companies operating in this sector and the progress of the entire application process until the refund is made.
Meanwhile, the two institutions seem to have shared opinions, especially when it comes to the assistance that should be given to businesses. Mr. Byluku pointed out the attention of the institution he leads to handle with maximum care any request that companies make.
According to Mr. Bylyku, AKBN is consolidating a network of business coordinators, which is made up in part by dedicated employees at each ministry and in several key institutions in the country. These officials will guarantee the handling as soon as possible and in a professional manner of requests, complaints or suggestions coming from businesses. Periodic meetings will also be organized with the entire team of coordinators to discuss the trends in types of issues and the improvement of the enterprise service methods. Mr. Bylyku also mentioned the technical assistance that Albania’s oil and gas sector is receiving from the U.S. Department of State’s Office of Energy Programs. The project, running since 2018, is providing highly qualified technical support in the oil and gas sector, technical supervision, technical training, etc. The project also aims to strengthen AKBN’s ability to provide effective oversight of the country’s oil and gas sector, develop a competitive and transparent oil and gas licensing process and attract qualified investors. Moreover, the project aims to preserve the environment and quality of life for communities in the oil production regions.