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GreekReporter.comCanadaCanadian Firm Submitted Application for Exploration License in Ioannina, Greece

Canadian Firm Submitted Application for Exploration License in Ioannina, Greece

Petra Petroleum Inc. is a Vancouver-based company that announced they have submitted an application in response to the Greece Open Door invitation in order to be granted rights for the exploration of hydrocarbons.

The Canadian Corporation, in collaboration with Energean Oil & Gas S.A. (Energean), intends to explore  Ioannina in north-western Greece. The license participants are Energean (80%) and the Petra Petroleum Corporation (20%) together with Schlumberger as Strategic Technical Partner.

Robert Lambert, President and Chief Executive Officer of the Corporation, commented, “We are delighted to have partnered with Energean to submit this application in this highly prospective region of Greece, which is on trend with large discoveries and producing fields in Albania and is geologically similar to the producing regions of southern Italy.”

The application will now be subject to evaluation by the Hellenic Republic Ministry of Environment, Energy and Climate Change and in its final evaluation will permit the Corporation, through the Operator, to be invited to negotiate and sign a license agreement.

The Corporation’s partner, Energean, is an international independent oil and gas exploration and production company headquartered in Athens, Greece, and is the sole current oil and gas operator in Greece, operating in the development areas of Prinos and South Kavala, where it holds 100% share of the interest.
(Source: balkans)

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