‎ Albpetrol JSC is a petroleum production and marketing company, which also monitors state petroleum agreements , in Albania. 100% of company stock is owned by the Albanian state. The company's headquarters is located in the city of Patos. Albanian oil history begins in 1918, when the Italian geologist Leo Madalena drilled the first well near Drashovicë (Vlora). The well reached the depth of 200 meters and had positive results, although only small amounts of oil was extracted. The results of the first well attracted the attention of big companies of the time, such as Anglo-Persian "APOC Oil Company" and Americans "Standard Oil". Since this time,in Albania we have more than 5650 oil and gas wells.