PRESS RELEASES

Hellenic Petroleum has been declared as the preferred bidder for two blocks onshore W. Greece (Arta - Preveza and NW Peloponnese)
05.02.2016

The Ministry of Environment & Energy announced the results of an international tender onshore W. Greece according to which Hellenic Petroleum S.A. is the preferred bidder for two blocks: Arta - Preveza and NW Peloponnese.

Hellenic Petroleum has contributed significantly to oil exploration in Greece and will continue to invest in the country by implementing its strategy to grow its E&P sector, selecting each time the most appropriate investment opportunity.

As is already known, Hellenic Petroleum - leading as an operator in  the joint venture with the Italian company Edison - following an international tender has been granted E&P rights for ​​West Patraikos Gulf, in which an extensive 3D seismic survey is ongoing.

Absolute respect  towards the environment and  the prevailing activities of the local communities is an inviolable principle of all corporate social responsibility activities  undertaken by HELPE, something which has demonstrated  recognizable results.

According to CEO, Mr. G. Stergioulis, "The discovery and production of oil and natural gas in Greece is a strategic goal that the company pursues. We rely on our significant competitive advantages, which are the extensive accumulated experience of our people exploring 39 blocks in Greece and abroad, the acquired know-how and the vast and comprehensive knowledge of the Greek business environment.

Τhe submitted offers for the two onshore blocks in W. Greece are based, as always, on strict technical and business criteria. Hence our target is, later on during exploration, to attract and form JVs with reputable oil companies, which ultimately could contribute ideas, expertise and financial standing. While we may commence exploration activities autonomously, we are always open to new collaborations and proposals that will be based on and fulfill all international business best practices of our industry., It is our non-negotiable duty to implement all the technological methods that will enable us to discover and exploit any potential hydrocarbon deposits, in favor of, besides our company, the national economy and  the further development of local communities, while ensuring the sustainability of our  invaluable heritage, the natural beauty and resources of the greek seas and mountains".