Environment ministry approves Energean’s hydrocarbon exploration proposal

Environment and Energy Minister George Stathakis on Friday approved a second proposal for hydrocarbon exploration in western Greece, submitted by Energean Oil & Gas, as well as a proposal by the Total, Exxon Mobil and Hellenic Petroleum consortium to search for fossil fuels west and southwest of the island of Crete.

Energean, which currently has rights to the Prinos reserves in the northern Aegean, is interested in the undersea exploration and exploitation rights for blocks 3 and 7 in the Ionian Sea, sources said. The areas in question are in the sea west of the islands of Corfu and Lefkada, covering an area of 6,700 square kilometres.