PRESS RELEASES

Bidding for offshore lease block areas in Western Greece (Ionian) & West and Southwest Crete
06.03.2018

In the context of a relevant Call for Tenders, released by the Ministry of Environment & Energy (ΦΕΚ 2848/11.08.2017), for the exploration for and exploitation of hydrocarbons Offshore West Crete and Southwest Crete, the business scheme from Total (40%, operator), ExxonMobil (40%) and Hellenic Petroleum (20%), submitted today to HHRM offers for these two lease block areas.   

In the context of a relevant Call for Tenders, released by the Ministry of Environment & Energy (ΦΕΚ 2849/11.08.2017), for the exploration for and exploitation of hydrocarbons Offshore Western Greece (“Ionian” Block), the business scheme from Repsol (50%, operator) and Hellenic Petroleum (50%), submitted today to HHRM offers for this lease block area.   

This is the result of the stated interest of the Group for the development of the Hydrocarbon Exploration & Production sector in Greece. The last years Hellenic Petroleum has secured upstream rights in specific areas in W. Greece: Patraikos Gulf (HELPE 50% operator, Edison 50%), block 2 (Total 50% operator, HELPE 25% and Edison 25%), Arta – Preveza and NW Peloponnese while they are negotiating the Lease Agreements of the blocks 1 and 10. 

In his statement, CEO of HELPE Mr. G. Stergioulis, pointed out: “As part of Helpe Group’s Development Strategy, we are consistently implementing our decision to be an active agent in the national effort to discover and exploit the domestic Hydrocarbon reserves. We rely on our competitive advantages, namely the accumulated experience, the technical brilliance, the know-how and the well-rounded understanding of the Greek business environment that our employees possess.
Continuing our successful participation in international tenders in W. Greece, and taking into consideration the recent, positive research conducted in the Patraikos area, we submitted three (3) new offers for the offshore blocks in the Ionian Sea and in the Southwest of Crete, thus manifesting Helpe Group’s international prestige. We collaborate with top international companies in our sector, who can provide the human capital, the ideas, the advanced technology and the financial capability required, so as to successfully face, along with Helpe Group, this unprecedented –for Greek standards- challenge.
It is our desire to leverage international best practice and the most advanced technology available in order to trace potential reserves; such a development will be a game-changer for the Hellenic Petroleum Group and our prospects, it will substantially endorse the national economy, and will strengthen the local communities. The Group, stronger than ever before, declares its dedication to the preservation of the country’s Natural Heritage, by implementing the strictest international regulations for the protection of the environment, a position that is non-negotiable for the Group.