Sunday April 19, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek energy deposits could be worth 150 billion euros, PM says

Greece has energy deposits that could be worth 150 billion euros in state revenue over the next 30 years, Prime Minister Antonis Samaras said on Wednesday.

"There are very strong indications... that over the next 25-30 years, state tax revenue from (hydrocarbons) could reach 150 billion euros ($206 billion)," Samaras told reporters at the energy ministry.

The cash-strapped Greek state hopes for a windfall from hydrocarbon caches which it believes lie in the Ionian Sea and near Crete.

The gulf of Patras is thought to hold some 200 million barrels of crude oil, while another 50-80 million barrels are believed to lie near Ioannina and another three million barrels near Katakolo.

Greece in 2012 picked a Norwegian contractor to carry out seismic surveys in the Ionian Sea and south of Crete in search for oil and gas.

Drilling contracts for the region are to be issued later this year.

"We are completing the concession agreements for the gulf of Patras and Ioannina, where the indications are strongest, and they will be tabled for ratification by parliament," Samaras said.

State proceeds from the concession are to be used to support the country’s struggling pension funds, and for scientific research, Samaras said. [AFP]

ekathimerini.com , Wednesday February 26, 2014 (17:44)  
US Treasury secretary urges Greece to reach debt deal
Greece poised to sign gas deal with Russia, says German weekly
Russia gas deal would not solve Greece’s problems, says Schaeuble
Spanish official slams Greece, says time ´running out´
Panousis skeptical about law allowing early prison release
Alternate Minister for Citizens’ Protection Yiannis Panousis (photo) has distanced himself in an interview with Sunday’s Kathimerini from a law passed on Friday that allows inmates suffering...
Spike in Syrians seeking asylum in Greece
The number of Syrians applying for asylum in Greece has risen by more than 250 percent this year, according to the head of Greece’s asylum service, Maria Stavropoulou. She told Sunday’s Kath...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
Back to the beginning
From 1980 up until the present day, the Greek educational system has given a false sense of democratization based on a flawed system of educator and student participation. The educational ou...
EDITORIAL
Protecting a key asset
Tourism has emerged as the only real “heavy industry” in Greece to have weathered the crisis so it is not only a question of duty that everyone protect it but also interest. To begin with, m...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panousis skeptical about law allowing early prison release
2. Spike in Syrians seeking asylum in Greece
3. Coalition ponders next move as talks with lenders resume
4. Potami not seeking cooperation with other parties, says leader
5. US Treasury secretary urges Greece to reach debt deal
6. Greece poised to sign gas deal with Russia, says German weekly
more news
Today
This Week
1. Coalition ponders next move as talks with lenders resume
2. Potami not seeking cooperation with other parties, says leader
3. Spike in Syrians seeking asylum in Greece
4. Panousis skeptical about law allowing early prison release
5. Back to the beginning
6. US Treasury secretary urges Greece to reach debt deal
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. Putting off payments led to Q1 budget primary surplus
6. In the shadow of Greek prison, locals dread Golden Dawn trial
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.