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Oil Exploration: Agreement Signed for Greece's Kyparissia and Crete

Officials signed an initial agreement awarding private companies the exploration and development rights for hydrocarbons in sea blocks off the island of Crete and Kyparissia region in Peloponnese’s Messinia.
Greece’s Energy and Environment Minister George Stathakis signed the deal with the head of the Hellenic Hydrocarbon Resources Management Ioannis Basias and representatives of the companies involved.
According to Greek law, the agreements need to be checked by the Audit Council and then final signatures will be put on the contracts before being approved by the Hellenic parliament.
The agreement relates to two sea blocks south of Crete and one more off Kyparissia inside Greece’s Exclusive Economic Zone (EEZ). A joint venture consisting of Total, ExxonMobil, and Hellenic Petroleum has been awarded the sea of Crete area, while in Kyparissia, the contract has been awarded to Hellenic Petroleum.
With information from A.M.N.A.

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