Greece receives bids for offshore oil exploration

- Exxon, Total and Repsol, with Hellenic Petroleum, show their interest in searching for oil and gas off Crete and Ionian Sea

Greece has received bids from major oil companies, Exxon, Total and Repsol for offshore oil and gas exploration, the country's hydrocarbon management company said on Monday.

One of the two consortia, Exxon, Total and Hellenic Petroleum submitted a bid to explore oil and gas south of Crete, according to the Hellenic Hydrocarbon Resources Management (HHRM).

The company also declared that Hellenic Petroleum also joined forces with Spain's Repsol in a bid to search for hydrocarbons for one block in the Ionian Sea.

Evaluation of the offers is expected for completion, according to Athens-Macedonian News Agency.

Greece's Energy Minister George Stathakis, welcoming the interests from the oil companies, said that it was a vote of confidence for the Greek economy.

The country launched tenders for oil and gas explorations in 2017 in the Ionian Sea and south of Crete Island.


By Furkan Naci Top in Athens

Anadolu Agency

energy@aa.com.tr