New off­shore oil and gas ten­ders

Kathimerini English - - Focus -

Greece launched two ten­ders yes­ter­day for off­shore oil and gas ex­plo­ration and ex­ploita­tion in the west and south of the coun­try, the En­ergy Min­istry said. The move fol­lows ex­pres­sions of in­ter­est by a con­sor­tium com­pris­ing To­tal, Exxon Mobil and Hel­lenic Petroleum for ex­plo­ration at two sites off the is­land of Crete, and by Greece’s En­ergean for a block in the Io­nian Sea in western Greece. In­vestors will have 90 days to sub­mit of­fers to Hel­lenic Hy­dro­car­bons Re­sources Man­age­ment (HHRM) from when the an­nounce­ment is pub­lished in the Euro­pean Union’s of­fi­cial gazette. Greece has launched a pro­gram to dis­cover more oil and gas, en­cour­aged by re­cent large gas finds off Is­rael and Cyprus and spurred on by its pro­tracted fi­nan­cial cri­sis. In May it granted a con­ces­sion to Hel­lenic Petroleum for on­shore ex­plo­ration at two sites in the west of the coun­try, and to pri­vately held En­ergean for an­other block. En­ergean is cur­rently the coun­try’s only off­shore oil pro­ducer, in north­east­ern Greece, with an av­er­age pro­duc­tion of 3,500 bar­rels per day last year.

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