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Oil Giants Bid For Exploration Off Greece

Two consortia have expressed interest in participating in two Greek oil and gas exploration and exploitation tenders for regions off Crete and in the Ionian Sea, the Hellenic Hydrocarbon Resources Management (HHRM) company has said.
The two submissions are from America’s Exxon Mobil, France’s Total and Hellenic Petroleum for two blocks southwest of Crete, and from Spain’s Repsol and Hellenic Petroleum for one block in the Ionian Sea.
Greece’s Energean, which had initially shown interest in the Ionian Sea, did not express a commitment.
HHRM said it will proceed swiftly with the evaluation of the offers submitted to select the winner of the tender.
The company’s president and CEO, Ioannis Basias, told the Athens-Macedonian News Agency (AMNA) on Sunday that it would be feasible to complete the evaluation by May.
Encouraged by large gas finds in the eastern Mediterranean, Greece is eager to attract investment in its energy sector as it tries to emerge from years of economic crisis.
(Source: AMNA)

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