Tender for Greek Offshore Oil Drillings Published in EU Gazette

The invitation to an international tender for offshore test drillings in the Ionian Sea and south of the island of Crete was published in the European Union Gazette on Thursday. 

This means that interested oil companies will have to submit their bids by May 2015, within six months after the publication of the tender. This will be followed by an evaluation of the bids over a period of three months and another three months of negotiations. The successful bidders will be announced in November 2015. 

The tender involves 20 sea areas, known as blocks, of a size between 1,801 to 9,543 square kilometres delineated in areas where the depth of the sea allows drilling. The data collected by seismic research in 2012 in these areas and any data collected over time is available in data rooms for investors in Athens, Oslo, Singapore and Houston.