PRESS RELEASES

Submission of improved offers for oil exploration and production
08.09.2015

Based on its declared business interest in oil exploration and production in Greece, HELLENIC PETROLEUM S.A. responded to the competent Evaluation Committee’s invitation to improve its initial offers for the areas of Arta - Preveza and NW Peloponnese, by submitting improved offers for both regions.

The offers are based on experience gained in older projects that had taken place in Western Greece; they are streamlined and fully aligned with the international practices in oil exploration and, of course, comply with purely business criteria. In any case, the announcement by the Committee of a documented scoring, evaluation and ranking of the bids is expected, as described in the tender notice and as the Committee has stated in a recent meeting, so that HELLENIC PETROLEUM be able to submit its final offers.