Hellenic Petroleum has been awarded Block 10 offshore western Greece, in the Kyparissiakos Gulf, as part of the 2nd International Round.
Hellenic was already awarded two onshore blocks, and offshore Block 2, west of Corfu, in a joint venture with France's Total (operator) and Italy's Edison. Hellenic has ongoing exploration operations in the nearby "promising" Patraikos Block.
Hellenic Group’s CEO Grigoris Stergioulis says: “For Hellenic Petroleum, which has a long-term experience in the upstream sector in Greece and employs high-quality, specialized and experienced scientific and technical resources, active participation in hydrocarbon exploration and production in Greece is a natural choice. Following the ratification of the Lease Agreement by the Parliament, we are ready to immediately start exploration activities to discover the subsurface oil potential of Kyparissiakos Gulf, applying the most up-to-date, safe and environmentally friendly technological methods, showing the utmost respect for local communities and their current activities. We are absolutely convinced that this approach will allow for the best possible results, for the benefit of the Group and the country."
