Signing ceremony for hydrocarbon exploration west of Corfu to take place on Tuesday

TAGS: Energy

The signing ceremony of the contract granting rights to the consortium of France’s Total, Italy’s Edison and Greece’s ELPE to explore for, and exploit, hydrocarbons in plot 2 in the Ionian Sea in western Greece will take place on Tuesday at the Stavros Niarchos Foundation in southern Athens.

Greece and the three companies have already signed a lease agreement to search for oil and gas in a sea area west of Corfu.

The deal has been approved by the State Audit council and, after Tuesday’s ceremony, the contract will be submitted to Parliament for ratification.

Plot 2 and 20 other areas in the Ionian Sea and south of Crete were included in the international tender for hydrocarbon exploration concessions in 2014