Ionian Sea Block 10 goes to Hellenic Petroleum

ATHEX blue chip company Hellenic Petroleum is the bidder selected for the concession of Block 10 in the Gulf of Kyparissia, west of the Peloponnese, for surveying for and utilization of hydrocarbons in the area, according to a statement by the Environment and Energy Ministry on Tuesday.

In the next few days the tender’s valuation committee will invite the company to agree on the definitive text of the draft
concession contract, the ministry added.

The consortium of Total-Edison-Hellenic Petroleum was recently chosen as the preferred bidder for Block 2 in the Ionian Sea, west of Corfu. The ministry announced that the contract for this will be signed soon.
It follows the selection of Hellenic Petroleum for onshore blocks at Arta-Preveza in Epirus and in the northwestern Peloponnese.

Hellenic Petroleum chief executive Grigoris Stergioulis commented on the Block 10 selection saying that his company constitutes the “natural choice in our country” given its experience and highly skilled staff.

“We are ready to proceed with the surveying and utilization [of the block] immediately after the ratification of the concession contract by the Parliament,” he added.