ECONOMY

Maniatis to present Greek hydrocarbon blocks in US

Energy Minister Yiannis Maniatis is flying to the United States on Sunday with the primary aim of promoting hydrocarbon surveys in the Ionian Sea and the region south of Crete. He will hold meetings with US government officials as well as representatives of American oil companies.

During his five-day visit Maniatis will meet his US counterpart Ernest Moniz and Under Secretary for Economic Growth, Energy and the Environment Catherine Novelli in Washington.

Maniatis also intends to present the new round of concessions in the Ionian and south of Crete to US oil industry officials, just a few days before the tender of the 20 blocks.

The Greek minister told reporters in Athens that there is no sign the decline in global oil rates could have a negative impact on Greece’s effort to utilize its hydrocarbons, as interest continues to be strong and intense.

He went on to note that such investments are long-term, and are based on estimates regarding the level of oil prices over the next three to four decades so that investment in Greek hydrocarbons will be as likely as other countries’.