Greece, Total, ExxonMobil & HELPE sign contracts for hydrocarbons surveys off the shores of Crete

28 June 2019
251 Views

At a special event attended by Prime Minister Alexis Tsipras, the contracts for the granting of the right to explore and exploit hydrocarbons in the sea areas of “Western Crete” and “Southwest Crete” were signed. These are marine areas of 20.058,4 sq.km. west and 19.868.37 sq.km. southwest of Crete.

The Greek Minister of Energy Mr. Stathakis referred to the benefits that will come from the agreement, pointing out that there quite many for Greece and Crete as well.

As he underlined, “some of the Greek government money will be allocated directly to the Region of Crete and this is good for the university institutions too. The Hydrocarbon Research Institute has already been established in Crete”.

The joint venture is comprised of Total (40%), ExxonMobil (40%) and Hellenic Petroleum – HELPE (20%).

The research period will be 8 years, a period in which the companies must perform seismic and geochemical surveys and one drilling at the total depth of 4.000 meters (including depth of the water).

You may be interested

Ten ancient sites to see in Athens
GREECE
shares1566 views
GREECE
shares1566 views

Ten ancient sites to see in Athens

Panos - Jan 28, 2020

During the last years, the city of Athens has seen a dramatic transformation towards modernity. It has turned into one…

The End of Smartphones: Working prototype of Smart Contact Lens unveiled!
GREECE
shares19 views
GREECE
shares19 views

The End of Smartphones: Working prototype of Smart Contact Lens unveiled!

Panos - Jan 28, 2020

Mojo Vision, a tech startup firm, has unveiled a working prototype of what it claims to be the world’s first…

MSC Cruises picks Greek port Piraeus for homeporting from 2021
FINANCE
shares19 views
FINANCE
shares19 views

MSC Cruises picks Greek port Piraeus for homeporting from 2021

Panos - Jan 28, 2020

Leading cruise operator MSC Cruises announced on Wednesday in Athens a first for the Swiss-based operator: the launch of a…

Leave a Comment

Your email address will not be published.