Hydrocarbon block tender still on
The tender for the concession of 20 blocks for hydrocarbon exploration in the Ionian Sea and south of Crete will continue regardless of recommendations by certain companies to postpone it due to low oil rates and the political uncertainty in Greece.
Energy Ministry sources have told Kathimerini that there are no plans to postpone the tender that ends on July 14, and they estimate that any such development less than a month before the deadline for the submission of binding bids would be seen as “problematic.”
Ministry officials who have been supervising the process since its start and are in contact with the oil market acknowledge the difficulties as regards the current low global oil rates, which considerably raises the business risk in terms of regions with great sea depths, such as the Ionian, but say that a postponement would not really change anything as market forecasts speak of oil rates staying at around $60 per barrel.
“Those who are about to come, will come,” a ministry source said, adding that at this point even one offer from a major company would constitute a satisfactory result for the tender.
