Dragasakis, Stathakis meet oil company execs, discuss investment opportunities

Environment and Energy Minister George Stathakis on Friday met representatives of ExxonMobil, Total and Hellenic Petroleum (ELPE) for talks focusing on their possible joint participation in oil and gas exploration ventures in Greece, especially in western parts of the country.

Earlier, executives of all three companies had also met the government Vice-President Yiannis Dragasakis.

According to an environment ministry announcement, the discussion focused on the prospects of exploring and drilling for hydrocarbons “with respect for national and international environmental protection rules.”

Both Total and ExxonMobil had purchased the results of seismic surveys conducted in the Ionian Sea and the sea south of Crete by the Norwegian company PGS. The French oil company is already participating in joint venture with ELPE and Edison, where it has been named a preferred investor for ‘Block 2’ west of Corfu.

An earlier press release regarding their meeting with Dragasakis said the company executives were briefed on the Greek economy’s transition from recession to growth and the strategy for the country’s exit from memorandums, highlighting the lucrative investment opportunities in Greece.

Dragasakis said that the government was systematically examining ways to exploit the country’s natural resources with respect for environmental protection terms, transparency and the greatest possible benefits for state social insurance.