Environment ministry approves Repsol participation in Ioannina exploratory drilling contract

The environment and energy ministry on Wednesday approved the participation of the Spanish firm Repsol Exploracion Ioannina S.A. in a lease for exploratory drilling for oil and gas in the Ioannina region.

Environment and Energy Minister George Stathakis signed a decision transferring to Repsol the 60 pct share of the lease contract belonging to Energean Oil and Gas, under the lease contract signed by Energean, Petra Petroleum INC and the Greek State.

Repsol has also made an agreement with Energean to participate with the same stake (60 pct) in the exploratory drilling in Aitoloakarnania. In both cases, it is taking the role of operator.