ECONOMY

Total withdraws from two hydrocarbon blocks off Crete

Total withdraws from two hydrocarbon blocks off Crete

TotalEnergies on Thursday announced its decision to withdraw from two hydrocarbon exploration blocks near Crete – the block of Western Crete and that of Southwest Crete – after the completion of surveys in those areas, saying it has informed the authorities and its partners of its decision.

According to the announcement, TotalEnergies remains committed to developing renewable energy sources in Greece and will continue its activity in the country via its local subsidiary TotalEnergies Marketing Hellas.

The French-based TotalEnergies had been participating in a consortium with ExxonMobil and Hellenic Petroleum in the blocks in question.