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).

In the first half of 2017, the three-dimensional seismic recordings were processed and over the next few months is expected to complete the region's data interpretation in order to finalise drilling targets and decide on the relinquishment area (25%) in accordance with the Lease Agreement.

  • In February 2016, following an international competition and following the evaluation tender offers, HELLENIC PETROLEUM was selected by the Ministry of Environment & Energy as the Preferred Bidder for the concession rights of exploration and exploitation of hydrocarbons of the onshore block areas of “Arta-Preveza” and “NW Peloponnese”. The Lease Agreement for both areas were signed on 25/05/2017 by the Minister of Environment and Energy and by the Contractor, and are now in the process of ratification by the Court of Auditors and the Greek Parliament.

  • In the first half of 2017, the negotiations with the Greek State were concluded and the terms of the Lease Agreements for Block 2 in the Ionian Sea west of Corfu were finalised, between the RIS and the business consortium Total (50%, operator) – Edison (25%) – HELPE (25%). Also, the pre-contractual audit procedure was initiated by the Court of Audit in order to subsequently ratify the Lease Agreement by the Greek Parliament. For the offshore Block 10 of the Ionian Sea in Kyparissia Gulf, where HELPE has been declared as Preferred Bidder, the negotiations of the Lease Contract are in progress. In the offshore Block 1 of the Ionian Sea, north of Corfu, where ELPE has submitted an offer, it is expected to be declared as Preferred Bidder.

On 31 May 2017, the consortium of TOTAL (operator), ExxonMobil and HELPE submitted to the Ministry of Environment and Energy as well as the Hellenic Hydrocarbon Management Authority (HHMA) formal indication of interest for hydrocarbon exploration in two (2) offshore Areas of Crete. Following the positive opinion of HHMA, the application was accepted by the Ministry in June 2017 and an international tender is expected to be announced in accordance with N 4001/11.

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 10 MW as well as a 7 MW wind park in Pylos, Messinia.

5 power and heat generation units via biomass combustion (from agricultural residue) with a total capacity of 25 MW and 4 other PV projects with a total capacity of 11.6 MW are in various stages of development. With regards to the 3 out of the 4 PV (total capacity of 8.6 MW), HELPE Renewables participated in the first PV competitive tender process, organized by RAE in December 2016, which resulted in the company being awarded all of the projects for which it submitted an offer, as presented below:

  • PV project with a total capacity of 3.6 MW at HELPE’s Aspropyrgos refinery.

  • PV project with a total capacity of 4.0 MW at HELPE’s Thessaloniki refinery.

  • PV project with a total capacity of 1.0 MW at the Industrial Park of Kavala.

HELPE Renewables intends to complete those projects during 2017. The company continuously assesses investments in own production for own consumption at the Group facilities, which are connected to the LV and MV networks.

 In addition, HELPE Renewables, in collaboration with LARCO, is developing a PV portfolio of 143 MW as well as wind and hybrid projects.

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ASPROFOS constitutes the largest Greek engineering and energy consulting services provider in South-eastern Europe. It operates in accordance with internationally accepted standards and practices, certified by ISO 9001:2008, ΕLΟΤ 1429:2008, ISO 14001 and OHSAS 18001.

During 2016, it employed 204 professionals. ASPROFOS directly supports the Group’s investments particularly in the field of refining and natural gas, through the provision of a broad range of technical, project management and other related advisory while it is continuously differentiating the range of its services, increasing its client portfolio, diversifying away of both the Group and Greece.

In 2016, the Company provided services in 155 projects, the most important of which are outlined below:

  • Licensing and Technical/Engineering Services for the TAP pipeline and detailed design of section 1 (from 0 to 180 km)

  • Detailed study and supervision of the construction of the 3rd LNG tank at the Revithousa terminal, on behalf of DESFA

  • Detailed Study and Supervision of the construction of cryogenic installations at Revithousa gasification terminal

  • Detailed study upgrading fire protection infrastructure for the tanks at Megara terminal

  • Detailed design and integration of the basic design for the new reboilers in the light ends unit at Thessaloniki refinery

  • Advanced Basic and Detailed design (FEED) and preparation of tender documents for the detailed study and construction of a JET A1 pipeline in Sri Lanka

  • Feasibility Study and Basic Design for a CDU Heat Recovery Unit at Jordan’s refinery

  • Basic Planning for Docking requirements and Distribution of Petroleum products and LPG in Ploche, Croatia, for VTTI (VITOL).

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