Hydrocarbon block concession model stays, for now

Hydrocarbon block concession model stays, for now

The inner cabinet on Thursday decided against introducing any changes to the block concession model for hydrocarbons surveying and utilization, to the relief of investors, but the decision announced by the office of Deputy Prime Minister Yiannis Dragasakis leaves open the possibility of reviewing the model in the future.

This confirms information that the government’s intention is to modify the concession model toward the more active involvement of the state, even through participation in the consortiums that win the tenders to survey the blocks.

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