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Wang Wentao, Chairman of Geo-jade Petroleum, attended the "70th Anniversary of the Establishment of Diplomatic Relations Between China and Albania" Celebration

Source:Geo-jade PetroleumRelease Time:2019-12-19 00:00
   On November 28, 2019, upon the sincere invitation of Mr. Selim Belortaja, Albanian Ambassador to China, Wang Wentao, Chairman of Geo-jade Petroleum, Chen Huanlong, Vice Chairman and President, and Guo Yi, Director and Vice President, represented the company at the "70th Anniversary of the Establishment of Diplomatic Relations Between China and Albania" celebration held at the Kerry Hotel, Beijing.

        Before the event, Mr. Selim Belortaja held a separate meeting with the Chairman Wang Wentao and his delegation. The Ambassador expressed his favorable impression of China and highly praised Bankers Petroleum, a joint-stock enterprise of Geo-jade Petroleum located in Albania, as a company with a high sense of social responsibility. Just two days before the celebration, Albania was hit by its strongest earthquake in 30 years (with a magnitude of 6.4). Bankers Petroleum demonstrated its humanitarian spirit by donating materials and contributing US$1 million to assist the Albanian disaster-stricken people upon learning of the earthquake.

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During the meeting, Chairman Wang Wentao expressed his great gratitude to the Ambassador for his praise and to all embassy staff for their assistance in visa processing and business visits for the company's employees. As the only shareholder among Bankers Petroleum's parent companies with professional capabilities in oil exploration and development, Geo-jade Petroleum has always attached great importance to Bankers' production and technical management, providing comprehensive technical support since the investment. Over the past two years, through continuous technological innovation, Bankers Petroleum has achieved steady and increasing oil production, contributing 5% and 30% respectively to Albania's GDP and industrial production value. It has now become the largest direct foreign investment enterprise and taxpayer in Albania.The remarkable achievements of Bankers would not have been possible without the strong support of the Albanian government and the active coordination of the Ambassador. Chairman Wang Wentao sincerely wished that the Albanian government and the Ambassador continue to support Bankers' endeavors as always. Geo-jade Petroleum will also continue to deepen its technical cooperation with Bankers. The "Belt and Road" Initiative and the "17+1 Cooperation Mechanism" between China and Central and Eastern European countries will bring unprecedented development opportunities to both China and Albania. The two countries have strong economic complementarities, and therefore there is great potential for mutually beneficial cooperation between the two sides. Geo-jade Petroleum will actively respond to the call of the nation and gradually increase its investment in the upstream and downstream businesses of the oil and gas industry in Albania.
 As the meeting was drawing to a close, Chairman Wang Wentao warmly welcomed the ambassador and the embassy staff to visit the Beijing office of Geo-Jade Petroleum. He also extended his sincere wishes for the happiness of the Chinese and Albanian people, and for the enduring friendship between the two countries on behalf of the Chinese enterprises invested in Albania.


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In his opening speech of the celebration, the ambassador first introduced the profound friendship that has existed between the two countries for 70 years. He expressed gratitude to the Chinese enterprises that, under the guidance of the "Belt and Road" initiative and the "17+1 Cooperation Mechanism," have assisted Albania in carrying out various infrastructure projects. The ambassador expressed his hope for deep cooperation with the Chinese government and Chinese enterprises in fields including education and infrastructure, making Albania a strong partner for China in the Balkan region of Europe. Furthermore, the ambassador specifically introduced to the guests Geo-Jade Petroleum and its joint venture project in Albania, Bankers Petroleum. Bankers' core asset, the Patos-Marinza oilfield, is the largest mature and producing oilfield on the European continent (excluding Russia). Since its acquisition, with the support and assistance of Geo-Jade Petroleum, Bankers has continuously innovated its technology and increased its production year by year, making outstanding contributions to increasing Albanian government revenue, solving local employment issues, and funding community activities. On behalf of the Albanian government, the ambassador actively invited more Chinese enterprises to enter Albania.



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The participation of Chairman Wang Wentao and his delegation in the celebration is a positive response to the "Belt and Road" initiative and the "17+1 Cooperation Mechanism." It is also a beneficial exchange with Albania based onGeo-Jade’s development strategy. This event has deepened the friendship and understanding between Geo-Jade Petroleum and the Albanian embassy. In the future, Geo-Jade Petroleum will continue to adhere to its own development strategy, effectively utilize the favorable conditions provided by domestic and foreign policies, concentrate on developing the main business of energy-related industries, and gradually grow into a professional, large- and medium-sized independent energy enterprise with an international presence.


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