Signing ceremony for hydrocarbon exploration west of Corfu to take place on Tuesday


The signing ceremony of the contract granting rights to the consortium of France’s Total, Italy’s Edison and Greece’s ELPE to explore for, and exploit, hydrocarbons in plot 2 in the Ionian Sea in western Greece will take place on Tuesday at the Stavros Niarchos Foundation in southern Athens.

Greece and the three companies have already signed a lease agreement to search for oil and gas in a sea area west of Corfu.

The deal has been approved by the State Audit council and, after Tuesday’s ceremony, the contract will be submitted to Parliament for ratification.

Plot 2 and 20 other areas in the Ionian Sea and south of Crete were included in the international tender for hydrocarbon exploration concessions in 2014