Norwegian Company to Explore Crete, Ionian Sea for Oil

Greek Minister of the Environment, Energy and Climate Change Evangelos Livieratos has told the Parliament’s Production and Trade Committee that the Norwegian company Petroleum Geo-Services (PGS) has been selected to explore off Crete and in the Ionian Sea hoping to find oil.

Livieratos said that the process followed by the Hellenic Ministry to choose a company for the project was transparent and that he believes that has given the country more credibility in dealing with foreign firms.

According to the Greek minister, eight companies participated in the contest, including Nopec Geophysical, Dolphin Geophysical, Ion Geophysical, Spec Partners, CGS Veritas, Petroleum Geo-Services, Spectrum Geo Limited, and Fugro Multiclient Services. He also said there be a new bidding process for hydrocarbon research and a decision made in 2014.

The ministry’s General Secretary, Constantinos Mathioudakis, said that PGS was chosen because of its technological knowledge and facilities,  its employees’ vast experience due to past participation in similar projects, and its agreement to keep to environmental protection, as well as other criteria.

(Source: Proto Thema)