Stream is a Canadian based oil and gas company with proven assets in Albania, strategically located in south-eastern Europe, adjoining the Adriatic-Mediterranean seas. Stream's Albanian properties include proven assets and potential resources, inclusive of three oilfields and one gas field.
Albanian agreements provide for a 25-year development period to 2035 with 5-year extensions on all its properties. Albania provides very attractive fiscal terms, including 100% cost recovery, 50% profit tax following full cost recovery, and legislation allowing full export of production.
Leveraging its earlier success in developing significant reserves and resource opportunity (2P ~$550MM pre-tax), Stream is transitioning its oilfields focus from initial development to maximizing production.
Having secured a sales agreement, we will continue our focus on developing the Delvina gas field to access its reserves, while confirming the additional step-out exploration potential as identified through seismic work.