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Oil & Gas Exploration & Production

HELLENIC PETROLEUM Group is also engaged in the exploration and production of Hydrocarbons. Its main activities in the field are focused in Greece:

  • 25% participation in a consortium with Calfrac Well Services Ltd (75%) in the Thracian Sea Concession, North Aegean, with a total area of approximately 1,600 sq. km. Geological studies were carried out in the first half of 2017.

  • Participation as an Operator, through its 100% subsidiary company, HELPE Patraikos (50%), in an international Joint Venture of oil companies, with EDISON International (50%) as a contractor to a Lease Agreement with Hellenic Republic in the offshore region of the Patraikos Gulf amounting to 1,892 sq. km. The Lease Agreement was ratified by the Greek parliament and has the force of law (Official Gazette Issue A, 221/03-10-14). Following the confirmation and mapping of the primary geological objective, in April 2018, the concession entered the 2nd phase of the Exploration Period, of two-year duration, during which the Contractor is required to perform an exploratory drilling.

  • HELLENIC PETROLEUM has been awarded hydrocarbons exploration and exploitation rights in two onshore areas, namely "Arta - Preveza" and the "Northwest Peloponnese", as well as the offshore Block 10 in the Ionian Sea in the Kyparissias Gulf (ratification by the Greek Parliament is expected) while for the offshore area (Block 1) in the Ionian Sea, north of Corfu, HELLENIC PETROLEUM has submitted an offer and it is expected that it will be declared as the Preferred Bidder.

  • The consortium consisting of Total 50% (Operator), Edison (25%) and HELPE (25%) holds the exploration and exploitation rights for offshore Region 2, West of Corfu. In those areas, a geological and environmental studies program is being implemented based on contractual obligations.

  • The REPSOL (50%, Operator) - HELPE (50%) consortium is expecting the Greek State to ratify the Agreement on the concession of hydrocarbons exploration and production in the offshore area of Western Greece, "the Ionian Sea".

  • In addition, as a member of a consortium, HELPE finalised the relevant Lease Agreements with the Greek State for two offshore regions west and southwest of Crete (Total 40% Operator, ExxonMobil 40%, HELPE 20%) and ratification by the Greek Parliament is expected.

Renewable Energy Sources (RES)

HELLENIC PETROLEUM - RENEWABLE ENERGY SOURCES SA (ELPE RES) was founded in 2006 and is a 100% Group subsidiary. The company’s object of business is the production and trading of energy products produced by renewable energy sources.

ΗELPE Renewables’ target is the development of a significant renewable energy portfolio (wind, solar, biomass etc.), over the next few years, diversifying thereby its energy portfolio and partial offset of the Group’s greenhouse emissions.

ΗELPE Renewables already operates PV parks on Group-owned property with a total capacity of 17.6 MW as well as a 7 MW wind park in Pylos, Messinia.

By the end of 2018, the following stations were in operation:

  • 7 P/V stations located on property owned by the Group with a total nominal capacity of 19 MW. These include 4 P/V projects with a total capacity of 17,6 MW of the first tender process organized by RAE (2016).

  • Wind farm with a capacity of 7 MW in Pylos in Messinia

  • 10 PV own production with net-metering systems totalling approximately 100 KW, installed at EKO and BP fuel stations.

The following projects are in various stages of development:

  • 2 P/V projects with a capacity of 12 MW, on property owned by the Group.

  • 4 biomass power and heat generation units (using agricultural residues as source of energy) with a total capacity of 20 MW, as well as a 1 MW biogas plant.

  • 130 MW photovoltaic portfolio, as well as wind and hybrid projects in cooperation with LARCO.

  • In 2018, the Group submitted applications for production licensing for projects with a total capacity exceeding 200 MW.

  • At the same time, HELPE Renewables continuously assesses investments in own production for own consumption at the Group facilities, which are connected to the LV and MV networks.

HELPE Renewables follows the Safety and Environment procedures adopted by the Group with regard to compliance, reporting, risk and accidents prevention and management, both during the construction phase as well as operation. A S&E engineer is appointed for each new project, entrusted with monitoring the relevant issues, supervising works and the S&E licensing stage, as well as the validity term and the renewal of licenses.

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ASPROFOS, a Group subsidiary, is the largest Greek engineering firm and largest energy consulting services provider in South-Eastern Europe. It operates in accordance with internationally accepted standards and practices, certified by ISO 9001, ΕLΟΤ 1429, ISO 14001 and OHSAS 18001.

In 2018, it employed 225 qualified professionals and its turnover reached €12.4 millio and provided services to 90 new projects, the most important of which are outlined below:

  • Design of new white products pipeline for the interconnection of the Aspropyrgos and Elefsina Refineries, and upgrade of the existing suburban railway line in western Attica.
  • Equipment design (supply technical specifications) and construction of a new SRU unit and its interconnection with the refinery of Thessaloniki.
  • Detailed design for the implementation of the findings of the HAZOP study on the naphtha isomerization unit (U-3300) at the Aspropyrgos refinery.
  • Advanced Basic and Detailed Design (FEED) of the LPG facilities and of oil product storage facilities in Vasiliko, Cyprus.
  • Project management services for the oil emergency stockholding system of Serbia.
  • Design and environmental study for the natural gas pipeline project IGI Poseidon.
  • Study for the rerouting of the JET A1 pipeline in Sri Lanka.
  • Construction supervision services for the new Amine Unit at the Rijeka Refinery in Croatia.

ASPROFOS’ activity in the area of Corporate Social Responsibility was also significant throughout 2018, as it supported the Group's program by restoring the Theatre of Mandra in Attiki, as well as completing the restoration of the special education complex in Rafina.

For more information: