Greek Prime Minister: ‘150 Billion Euros Revenue From Hydrocarbons’

greek-hydrocarbons1The Greek Prime Minister, Antonis Samaras, during a meeting that took place at the Ministry of Environment Energy and Climate Change, claimed that Greece’s tax revenue from the exploitation of hydrocarbons in a period of 25 years will reach the  approximate amount of 150 billion euros. This amount is estimated without taking into account the cost of the surveys that will take place during the same period of time.

The head of the Ministry also informed Mr. Samaras at what stage the PGS’s process of the seismic data is in the Ionian sea and the region of southern Crete.

The Greek Prime Minister claimed that Greece can become a major active energy hub in the Mediterranean. He added that the Greek government plans to use the revenues from oil and gas exploitation in order to build a new social security system following Norway’s example and also that it will subsidize projects of public infrastructure and research programs.

As soon as Mr. Samaras was briefly informed about the hydrocarbons issued by the Ministry, Giannis Maniatis, claimed that the country has a new starting point for Greece’s future as there is strong evidence for the existence of hydrocarbons in the region of Epirus and the Ionian Sea.

Mr. Samaras also made special reference to the deal between DEPA and Gazprom for a 15 percent decrease on gas tariffs, which will have a retroactive effect from 2013. According to the Greek Prime Minister, this development will provide significant relief to the Greek households and Greek enterprises.


  • TediUSA

    Does someone know who is Antonis Samarases dealer?

  • The Truth is…

    It seems the new “Vodka” does work well 🙂

  • Polycrates

    Frankly speaking Samaras is full of gas….Nitrous oxide.

  • thes8niki

    6 bln/yr over 25 yrs is doable