Bidding for onshore lease block areas in West Greece

Today, February 06, 2015, HELLENIC PETROLEUM submitted offers for the onshore lease block areas of Arta-Preveza and NW Peloponnese in West Greece, in the context of a relevant tender released by the Ministry of Reconstruction of Production, Environment & Energy. This is the result of the stated interest of the Group in the development of the Hydrocarbon Exploration & Production sector in Greece. HELLENIC PETROLEUM is already leading, as operator, an international consortium comprising Edison and Petroceltic which, following an international tender, has been awarded the W. Patraikos lease and has commenced exploration operations.

The Group states that: “For HELLENIC PETROLEUM, which has a long-term experience in the upstream sector in Greece and employs high-quality, specialized and experienced scientific and technical resources, active participation in Hydrocarbon Exploration & Production in Greece is a natural choice. All relevant managerial decisions and actions are governed by thorough technical and financial analysis and evaluation and the progress of exploration operations and investments is determined by technical and entrepreneurial criteria. We are convinced that this approach will allow for the best possible results, both for the Group and for Greece”.