Strong interest for Greek hydrocarbons in the wider Ionian sea area

ExxonMobil, Total and Hellenic Petroleum are focusing their hydrocarbon exploration business in the wider Ionian sea area and not necessarily just in the sea beds included in the 2014 concession round, representatives of the three companies said during a meetingon Friday with Deputy Prime Minister Yiannis Dragasakis and the Minister Environment and Energy Giorgos Stathakis.

The three companies had bought from the Norwegian PGS the “package” of data that emerged from seismic explorations that preceded the tender, in the Ionian and Southern Cretan Seas. According to information and estimates, the three companies’ common interest emerged from the re-evaluation and interpretation of these data and their combination with the data from earlier explorations in the wider region as well as the comparisons made with regions with geological continuity in the Greek territory.

The next step will be the official expression of interest which, according to the same sources, will not be delayed, as the prevailing climate is very good.

Meanwhile, major developments in oil exploration are expected from next week with the signing of contracts to start operations in three regions, as well as the re-seismic exploration of the sea areas in the central Ionian and southern Cretan seas.

On Thursday, the public contracts with Hellenic Petroleum and Energean will be signed for the concession of Arta-Preveza, Northwest Peloponnese and Aetoloakarnania respectively. Government negotiations with the companies were completed and, after their signature, the contracts will be submitted to Parliament for ratification.

At the same time, the Hellenic Hydrocarbon Management Company (SEECP) is launching new seismic surveys in the Ionian Sea and the sea area south of Crete, “targeted” to areas that are reported to be of the greatest interest. The next objective of is the exploration for hydrocarbon fields in the land areas of Northern Greece.