International Interest in Gas and Oil Tenders in Greece



Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted “strong interest” from companies exploring in the Mediterranean, the head of Greece’s oil and gas resources management company announced on Wednesday.

Greece launched the tenders after expressions of interest by a consortium of Exxon Mobil, Total and Hellenic Petroleum for two sites off the island of Crete and by Greece’s Energean for a block in the Ionian Sea.

Offers must be submitted to the Hellenic Hydrocarbons Resources Management (HHRM) company. Along with Exxon and Total, Israel’s Delek, Italy’s Eni and U.S. Noble Energy are currently exploring off Israel or Egypt.

“HHRM is happy because the companies involved in exploration in the southeast Mediterranean have shown strong interest or have visited data rooms,” Chief Executive Yannis Bassias said. Bassias declined to name the companies because the tender process is ongoing.

Investors have until early March to submit offers and Bassias expects preferred bidders to be announced by May. The preferred bidder must be formally approved by the energy ministry and the concession ratified by parliament.

Source: Reuters