ExxonMobil in talks with Hellenic Petroleum over exploration

22 May 2017
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ExxonMobil representatives arrived in Athens late last week to finalize cooperation with Hellenic Petroleum (HEL.PE) in the field of exploration and exploitation of fossil fuels in Greece’s wider region.
The oil giant has already acquired a concession for an offshore lot off Cyprus, essentially its first foray into the southeast Mediterranean region in terms of exploration and drilling.
In terms of future cooperation with the partially state-run HEL.PE (the country’s biggest petro-chemical conglomerate), ExxonMobil is reportedly discussing lots in the Ionian Sea (off western Greece), and possibly south of the large island of Crete.
The only commercial oil deposits discovered and retrieved over past decades Greek territory have were the Prinos I and II fields east of the northern Aegean island of Thassos.
Government deputy premier Yannis Dragasakis met with executives of both companies.

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