ECONOMY

ELPE, Energean talk cooperation

elpe-energean-talk-cooperation

Local energy firms Hellenic Petroleum (ELPE) and Energean sat down at the same table last week after Energy Minister Panos Skourletis invited them to discuss a settlement for the Arta-Preveza hydrocarbon block in western Greece, as a ministry committee found the bids by the two companies to be equal.

Energean’s chairman and chief executive Mathios Rigas revealed that the meeting had taken place and spoke favorably about cooperating with ELPE. However, he did stress that certain issues that constitute problems in the two companies’ relations will have to be resolved first.

The main obstacle to their cooperation stems from a court battle between the two energy firms regarding seismic surveys Energean conducted in the Thracian Sea. The two companies are also at odds over which will undertake the role of operator of the disputed Arta-Preveza block, with Energean arguing that it should on the grounds of possessing the necessary know-how.

The next meeting between ELPE and Energean on the issue is expected right after the Christmas holidays, with a view to striking an agreement on cooperation as soon as possible.