Friday December 19, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Hydrocarbon bids by March

 Energy Ministry aims high in attracting companies for the exploration of possible oil and gas reserves

By Chryssa Liaggou

The tender for the concession of blocks for oil and gas exploration will be issued in September and bids are expected for March 2015, according to Energy Ministry plans for the utilization of the country’s newly chartered hydrocarbon reserves. The ministry is aiming high regarding the expected bids, while oil companies are showing considerable interest.

The ministry’s strategy provides for the attraction of medium-sized and large oil companies and for investors’ full commitment to offer a work schedule that will come complete with the equivalent collateral as well as the protection of environmentally sensitive areas in the Ionian Sea and south of Crete.

In an informal chat with reporters on Monday, Energy Ministry officials familiar with the issue said that the characteristics of the areas to be conceded for exploration, such as the great sea depths, require very large investments that cannot be covered by small firms. However, they added, smaller companies could enter the bidding process by forging alliances with bigger firms.

The ministry officials also described the international oil industry’s response to the presentation of the Greek blocks in London a week ago as better then expected, placing emphasis on the participation of big players such as Shell, ExxonMobil, Chevron, Total, BP, Statoil, Eon, ENI and ENEL.

The representatives of those industry majors asked the Greeks to supply them with a specific timetable, clear terms and conditions and a transparent assessment system for the bids. They did not raise any issues over the size of the blocks to be conceded nor make any negative comments regarding the cost of the seismic data they need to acquire in order to prepare their bids, the same officials said in response to certain reports.

The ministry has decided not to include the area of the southern Ionian Sea where the sea depth reaches up to 2,500 meters in the blocks, as there is no internationally certified technology for drilling at such a depth.

ekathimerini.com , Monday Jul 7, 2014 (23:07)  
Importers told to pay up in advance
Jobless rate posts steady decline
Piraeus and KKR strike loans portfolio deal
German approval and praise come at key time
ND rebuffs bribery claims, says alleged mediator was adviser to Kammenos
Responding to claims by Independent Greeks leader Panos Kammenos that a mediator tried to bribe one of his MPs, Pavlos Haikalis, to vote for the coalition's candidate for president, New Demo...
GD´s Kasidiaris charged for recording chat with ex PM aide
A prosecutor on Friday brought charges against the spokesman of neofascist Golden Dawn, Ilias Kasidiaris, in connection with the latter's recording of a conversation a year ago with the then...
Inside News
SOCCER
PAOK loss at Giannina brings Olympiakos to within a point
The bad losses that PAOK and Panathinaikos suffered on the road on Thursday allowed Olympiakos to gain significant ground on the table and come to within one point from the top after the mid...
BASKETBALL
Reds lose in Turkey to motivated Galatasaray
Olympiakos went down at Galatasaray 79-74 on Thursday for its second defeat in the first round of the Euroleague that ended with the Reds topping their pool with eight wins in 10 games. With...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
EDITORIAL
Oblivious to change
The world around us is undergoing many important changes while we sit around stewing in our own juices. US President Barack Obama is actually talking with Cuba’s Raul Castro, for example, bu...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ND rebuffs bribery claims, says alleged mediator was adviser to Kammenos
2. GD´s Kasidiaris charged for recording chat with ex PM aide
3. Independent Greeks leader backs MP´s bribery claims, threatens to release video
4. Ministry rebuffs reports that Amphipolis skeleton has been identified
5. Gov´t spokeswoman says bribery claims ´badly-played charade,´ heralds legal action if evidence not produced
6. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
more news
Today
This Week
1. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
2. Greek PM Samaras confronts peril putting his Greek transformation to vote
3. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
4. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
5. Gov't spokeswoman says bribery claims 'badly-played charade,' heralds legal action if evidence not produced
6. Ministry rebuffs reports that Amphipolis skeleton has been identified
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. High stakes
6. Europe's drama in Greece needs final act to avoid tragedy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.