We use cookies to enhance user experience and ensure optimised site functionality. We inform you that the use of Essential Cookies is auto-performed according to our Cookie Policy. You can adjust other cookie settings to your preference by selecting "Cookie Settings".
×Cookies Settings
The essential cookies are absolutely necessary for the proper functioning of the site. They allow you to browse and use its features. They are automatically installed when you visit the website.
Always On •
Statistics cookies help us, as website owners understand how visitors interact with site pages by collecting information in Google Analytics.
Suggested •
These cookies are used to track site users' preferences. Their use relates to the promotion of relevant advertisement.


Announcement regarding the transfer of TotalEnergies' interest in hydrocarbon E&P consortia

“HELLENIC PETROLEUM HOLDINGS S.A.” (the “Company”), following the announcement dated 24.5.2022, informs the investors:

Following the withdrawal decision announcement of ΤotalEnergies, the co-lessees of the Lease Agreements for the right to explore and exploit hydrocarbons in the offshore areas of “West Crete” (Law 4631/2019) and “Southwest Crete” (Law 4628/2019) negotiated the settlement of the issues deriving from such withdrawal.

The parties have agreed that the 40% interest held by “TotalEnergies EP Greece B.V.” in the Lease Agreements is to be assumed by ExxonMobil Exploration and Production Greece (Crete) B.V. (taking 75% of the 40%) and by the Company’s subsidiaries “HELLENIC PETROLEUM EXPLORATION AND PRODUCTION WEST CRETE SINGLE MEMBER S.A.” and “HELLENIC PETROLEUM EXPLORATION AND PRODUCTION SOUTHWEST CRETE SINGLE MEMBER S.A.” (taking 25% of the 40%), with TotalEnergies EP Greece B.V. fulfilling its financial and other obligations. Following completion of the transaction, the interests in each of the respective Lease Agreements will be formed as follows:

  • ExxonMobil Exploration and Production Greece (Crete) B.V: 70%, which will also assume the Operatorship
  • The Company’s subsidiaries: 30%.

It is noted that the transaction, which is subject to consents from competent authorities, is not expected to have a material impact on the financial position of the Company.