Terraoil is a uniquely positioned onshore Albanian oil producer that has been operating in the country since 2012. Over that period, it has produced over one million barrels of oil and, in 2016, Terraoil was selected by the Albanian government as the country’s best foreign investor. The Company owns the Visoka oil field and in June 2018 signed heads of terms on three additional agreements for the Cakran-Mollaj, Gorisht-Kocul and Amonicë oil fields. Current combined production from these four fields is approximately 1,100 bopd. The Company expects to finalise production sharing agreements granting it full rights to produce and develop the new fields before the end of 2020.