Greece Picks Tie-Ups for Oil, Gas Exploration

Greece Picks Tie-Ups for Oil, Gas Exploration

 Greece’s energy ministry said it has picked two consortia led by Energean Oil and Hellenic Petroleum to search for oil and natural gas in two blocks in the western part of the country,  Reuters reported.

The Energean Oil-led consortium will explore for oil and gas near the town of Ioannina in northwestern Greece while the consortium led by Hellenic Petroleum, Greece's biggest refiner, will explore near the town of Patras, it added.
The ministry said it expects revenues from these two regions to reach about 11 billion euro ($14.2 billion) over the next 25 years.
Athens spends about 10 billion to 12 billion euro annually on oil imports, Reuters said.
 
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.