ECONOMY

Athens eyes hydrocarbon data revenues

The Greek state is expected to collect some 1 million euros in the next three months from the sale of the information data collected at no cost to the country regarding hydrocarbon reserves in the Patraikos Gulf, Ioannina and Katakolo blocks, all in western Greece, according to Deputy Minister for Energy Yiannis Maniatis.

Speaking on Thursday at a two-day energy conference in Athens organized by The Economist, Maniatis said it is a realistic target for Greece to cover up to 30 percent of its energy needs using its own hydrocarbons within the next 15 years. This would mean the country would save about 30 percent of its current annual expenditure on importing oil products, i.e. 10-12 billion euros.

The deputy minister also responded to criticism about the choice of the blocks, which further include the area in the sea to the south of Crete, where seismic research is set to be conducted this year. Maniatis said the advice of the Foreign and Defense ministries had been heeded along with that of the former?s team of experts working on the charting of Greece?s Exclusive Economic Zone.