First exploratory drills for Greek hydrocarbons to start in 2018-2019

Monday, July 10th, 2017
Last Update: 09:29

The first exploratory drills for hydrocarbons in Greece that will provide a clearer picture on the existence and size of the deposits are expected to start in 2018-2019 from the western Gulf of Patras and the offshore field in Katakolon, according to sources of the Athens-Macedonian News Agency.

The sources said interest now is focusing on the one hand on the invitation to a tender for the two large sea areas claimed by Energean Oil and Gas in the Ionian and the sea off western Crete, and the next tenders prepared by the Hellenic Hydrocarbons Resources Management (HHRM) for mainland and offshore areas, ΑΜΝΑ reported.

The regions where the procedure to launch a tender is more advanced are the Gulf of Patras, Katakolon and the Ioannina block, as their concession agreements were approved by the Greek parliament in 2014.

The next step, according to the same sources, is for the government to sign the concession contracts for the offshore Block 2 in the Ionian Sea, west of Corfu, with the Total-Edison-ELPE consortium, which is currently being revised by the Court of Audit, and for Blocks 1 and 10 in the Ionian and northwest of Corfu with ELPE.

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