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Supermajors bid to explore for oil & gas offshore Greece

Total, ExxonMobil has submitted a bid for the lease of 2 block areas, Offshore West Crete and Southwest Crete.

Supermajors bid to explore for oil & gas offshore Greece


According to a statement on March 6, 2018, by Hellenic Petroleum (HELPE), a consortium of Total, ExxonMobil and Hellenic has submitted a bid to the Hellenic Hydrocarbon Resources Management for the lease of 2 block areas, Offshore West Crete and Southwest Crete.

 

Greece launched the offshore Ionian and Crete tenders in August 2017, ExxonMobil, Total and Hellenic Petroleum have teamed up to bid on a block near Crete, while Repsol and Hellenic Petroleum bid on another block in the Ionian Sea.

 

The partnership would be operated by Total with a 40% interest with ExxonMobil and HELPE holding 40% and 20% interest, respectively. Repsol would be the operator with a 50% interest and Hellenic Petroleum would hold the other 50% interest.

 

In his statement, CEO of HELPE, G. Stergioulis, pointed out: «We collaborate with top international companies in our sector, who can provide the human capital, the ideas, the advanced technology and the financial capability required, so as to successfully face, along with HELPE Group, this unprecedented - for Greek standards - challenge.»

 

Encouraged by large gas finds in the eastern Mediterranean, Greece is eager to attract investment in its energy sector as it tries to emerge from years of economic crisis.

 

To read this news in Russian.

Source : Neftegaz.RU


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