Trio awarded exploration rights for block 2 offshore Greece

Total, Edison, and Hellenic Petroleum have signed a lease agreement giving them exploration rights to block 2 in the Ionian Sea offshore Greece.

Offshore staff

MAROUSSI, Greece – Total, Edison, and Hellenic Petroleum have signed a lease agreement giving them exploration rights to block 2 in the Ionian Sea offshore Greece.

Hellenic’s chairman E. Tsotsoros pointed out that it took more than 30 years since the discovery of a promising geological structure on the block to signing of the concession contract.

The renewed interest in Greece’s offshore oil and gas potential by international players, inspired by the deepwater gas discoveries in the eastern Mediterranean, will limit the investment risk in Greek offshore plays, he added.

He expected ratification to follow of lease contracts for Arta-Preveza, NW Pelepponese and block 10 offshore area in Kyparrisiakos, and that the Greek government would also announce a new tender for the offshore area north and west of Crete, following expressions of interest byTotal, ExxonMobil, and Hellenic.

11/09/2017

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