BUSINESS

Exxon confirms interest in Greece

CHRYSSA LIAGGOU

TAGS: Energy

ExxonMobil’s interest in Greek hydrocarbons was confirmed in meetings on Friday that representatives of the oil multinational had in Athens with Hellenic Petroleum (ELPE) and leading Greek government officials.

Representatives of France’s Total, which is ELPE’s partner in the concession of Block 2 in the Ionian Sea, also attended the meetings with ELPE, Deputy Prime Minister Yiannis Dragasakis and Energy Minister Giorgos Stathakis.

ExxonMobil officials had traveled to Athens to confirm their participation in the Ionian concessions through acquiring a stake in ELPE, and also to sign a strategic cooperation agreement for a joint claim on other areas of the country that could hold large quantities of hydrocarbons, with the sea off Crete being a priority.

The US oil giant appears to have already reached an agreement with ELPE and Total, and its objective on Friday was to sound out the government regarding its support for the program to utilize the country’s hydrocarbon reserves, which is vital for ExxonMobil before it advances to the agreement-signing stage.

Sources say ExxonMobil will expand its plans to creating a joint venture with ELPE – with the US firm acting as the operator – through which other possible blocks will be targeted.

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