ECONOMY

Greece picks France’s Beicip as oil, gas adviser

Greece chose consulting company Beicip-Franlab to advise on the country?s oil and gas exploration, Deputy Energy Minister Yiannis Maniatis said on Thursday.

A team from the company, which also acted as technical adviser to the Cyprus government on exploration, began work at Greece?s Energy Ministry at the start of the week, Maniatis said at a conference, according to an e-mailed transcript of his comments from the ministry.

Investor interest in exploration rights in western offshore and mainland Greece is ?substantial? and there will be ?very interesting? binding offers, Maniatis said.

Bids from investors to conduct seismic surveys in the region are due by March 2.

Greece?s Hydrocarbon Agency is due to open next week.

About 30 percent of the country?s hydrocarbon needs can be met from domestic sources based on existing data, Maniatis said. [Bloomberg]