Ministry OKs environmental study for blocks south of Crete - ENERGY PRESS

17 JULY 2020

Energy minister Costis Hatzidakis has approved a strategic environmental impact study concerning an offshore area south of Crete in preparation for tenders to offer exploration and production licenses for two blocks covering most of the island’s width.

Giannis Basias, the former head official at EDEY, the Greek Hydrocarbon Management Company, went ahead with the strategic environmental impact study last August to clear the way for government authorities to stage tenders for licenses and also spare winning bidders of needing to wait for pending issues to be resolved before they can begin their exploration efforts.

In addition, it is believed EDEY took swift action for the environmental impact study covering the offshore area south of Crete in response to interest expressed by oil majors.

Study points to significant gas field off Crete - KATHIMERINI

10 JAN 2020 : 12:50
CHRYSSA LIAGGOU

A large reserve of natural gas off the southern coast of the island of Crete bearing similar features to Egypt’s Zohr gas field and Israel’s Leviathan in the Eastern Mediterranean has been identified by Hellenic Hydrocarbon Resources Management (EDEY) after an analysis of seismic data from a sea area that also included the Ionian Sea.

In a statement, EDEY said that the company’s specialized scientists in the fields of geophysics and geology worked in environments that share common features with other gas fields in the Eastern Mediterranean, namely Zohr and Leviathan.

The area in question is adjacent to another area that has been conceded to the consortium of Hellenic Petroleum (HELPE), Total and ExxonMobil.

Crete gas discovery will prompt ‘need for LNG facility on island’ - ENERGY PRESS

24 DEC 2018

The potential discovery of natural gas deposits west and southwest of Crete will prompt the need for infrastructure development on the island, including an LNG facility, Yiannis Basias, chairman of EDEY, the Greek Hydrocarbon Management Company, has told local newspaper Haniotika Nea in arguably his most forthright comments to date on the island’s energy prospects and subsequent actions.

Besides an LNG facility, the discovery of natural gas deposits in the region would also require pipeline development for natural gas transmission to platforms or the shore and subsequent transportation, Basias told the Cretan newspaper.

The official noted he is confident drilling expeditions planned for the region will produce favorable results. “Natural gas will be discovered west and southwest of Crete as the geological characteristics here converge with those of Egypt, Cyprus and Israel,” he pointed out.

Repsol, ELPE nearing finalized deal for new Ionian Sea block - ENERGY PRESS

16 November 2018

EDEY, the Greek Hydrocarbon Management Company, and a consortium comprising Spain’s Repsol and ELPE (Hellenic Petroleum) have completed negotiations for exploration and production rights at a new Ionian Sea block on offer.

The two sides have delivered a draft agreement to the energy ministry. It will also be forwarded to a supervisory committee within the next few days for approval before being signed by all sides involved and submitted to parliament for ratification. The agreement could be finalized by the end of the month, sources informed.

Greece presses the E&P button - PETROLEUM ECONOMIST

3 September 2018

Gerald Butt

Plans for deep-water exploration have raised hopes of an eventual major natural gas discovery, while onshore oil development is progressing slowly

In a modest, modern building tucked away in a leafy residential street close to the centre of Athens a major energy transition is being managed. The building is home to Hellenic Hydrocarbons Resources Management (HHRM). Since 2011, this state-owned company has been revitalising what had become a near-moribund energy sector.

HHRM exudes vigour, taking its cue, perhaps, from president and chief executive Yannis Bassias. Not so, he insisted, in an interview with Petroleum Economist. He said the firm's youthful vitality stemmed not from him but from the staff themselves: "When you take me out of the statistics, the average age here is 34, so this is great. We have a staff of just 17, we don't need any more."

This lean team has just pulled off a considerable coup, hooking super-major ExxonMobil into Greece's upstream, in partnership with Total, which already had a presence there. The latest move, many believe, will eventually see Greece emerge as a significant player on the East Mediterranean energy stage. Greek deputy energy minister Michalis Verroiopoulos told Petroleum Economist that "these days we're focussing on promoting hydrocarbons exploration in Greece—there's a new dynamism to it. We're very happy having huge companies like Exxon and Total deciding to invest here." 

Energy Ministry announces winning bid for hydrocarbon exploration off Crete - ANA-MPA

Tuesday 3 July 2018, 17:03:13

The ministerial decision announcing the winning bid of Hellenic Petroleum (HELPE), Total and Exxon Mobil consortium for hydrocarbon research off western and northwestern Crete was made on Tuesday.

The areas concerned cover 19,868 sq.km and 20,058 sq.km, respectively.

The call for tenders went out in December 2017 following the consortium’s expression of interest, and the consortium held negotiations with the Hellenic Hydrocarbon Resources Management (HHRA) agency, which submitted its approval to Environment and Energy Minister George Stathakis last week.

Prior to the agreement's tabling in Parliament, it must go through reviews by the Court of Auditors, the signature of the leasing agreements with HHRA, and the approval of the minister. 

As HHRA head Yannis Bassias told the Athens-Macedonian News Agency, the finalist for hydrocarbon exploration in the Ionian Sea (HELPE-Repsol) will be submitted to the minister next week.

Exxon, Total, Repsol among bidders for oil exploration off Greece - REUTERS

MARCH 5, 2018 / 7:20 PM

Reporting by Karolina Tagaris; Editing by Susan Fenton

ATHENS (Reuters) - Oil majors Exxon Mobil (XOM.N), Total (TOTF.PA) and Repsol (REP.MC) are among members of two consortia that have submitted bids to explore for oil and gas off Greece.

Greece’s oil and gas resources management company (HHRM) said on Monday that Exxon and Total, each with 40 percent stakes, and Hellenic Petroleum had jointly bid to explore off Crete, while Spain’s Repsol and Hellenic Petroleum had submitted a joint bid for a block in the Ionian Sea.

Greece launched the tenders last year after expressions of interest by the Exxon-led consortium for the two sites off Crete and by Greece’s Energean for the Ionian block, although Energean has since withdrawn.

HHRM said it would quickly evaluate the offers, while the final approval lies with the Energy Ministry.

Encouraged by large gas finds in the eastern Mediterranean, Greece is eager to attract investment in its energy sector as it tries to emerge from years of economic crisis.

Greece gets interest for new offshore oil and gas tenders: licensing body - REUTERS

JANUARY 17, 2018 / 1:28 PM / A DAY AGO

ATHENS, Jan 17 (Reuters) - 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 said on Wednesday.

Energy market in transition - CYPRUS MAIL

DEC 10, 2017

Charles Ellinas

The Energy market in transition was the title of the 22nd national energy conference held in Athens last month and attended by more than 300 delegates – heads of all energy institutions in the country, universities and CEOs of the leading energy companies and leading international participants.

The transformation of the Greek energy market emerged as the dominant topic of the conference. In his keynote speech Minister of Environment and Energy, Giorgos Stathakis confirmed that the ministry is preparing a long-term energy plan to 2030, which will present the policy and basic strategic directions of national energy planning.

Deep Offshore Exploration in Greece - GEO EXPRO

October 2017
Yannis Bassias
Newly processed seismic will uncover hydrocarbon resources hidden offshore Greece
This article appeared in Vol. 14, No. 4 - 2017

Recent interest in the areas south-west and west of Crete and in the Ionian Sea between Greece and southern Italy have brought western Greece to the attention of the oil and gas exploration industry, spurred on by East Mediterranean discoveries like Zohr in Egypt and Aphrodite in Cyprus. Hellenic Hydrocarbon Resources Management (HHRM), which was established in September 2011, provides today an innovative route to the management of Greek hydrocarbon resources. The company is now studying new tenders for the area, suggesting that, despite the present low oil price, the search for hydrocarbons in Greece is of increasing interest, as new technologies boost the cost-efficiency of operations.

Eni looks to Crete to further East Mediterranean exploration - OIL & GAS JOURNAL

HOUSTON, Oct. 9 2017
Tayvis Dunnahoe
OGJ Exploration Editor

Italy’s Eni SPA is eyeing acreage near Crete as Greece works toward opening its offshore to oil and gas development. According to Greece’s Kathimerini web site, Eni is taking the likely step from its foothold on the neighboring Cypriot market to expand its scope in the southeastern Mediterranean and the Greek market.

The company is expected to face strong competition with the consortium of Hellenic Petroleum, Total SA, and Edison considering the same area for development. Competition will strengthen Greece’s negotiating position ahead of signing concession contracts (OGJ, Aug. 27, 2017, p. 34).

‘ExxonMobil plans to invest €5bn for Crete exploration’ - ENERGY PRESS

21/09/2017

Global oil industry giant ExxonMobil has committed itself to investing 5 billion euros for hydrocarbon exploration and exploitation in the Greek market, Economy and Development Minister Dimitris Papadimitriou told investors at the 12th annual London roadshow of Athens-listed firms, as part of the government’s wider effort to present Greece as a market now beginning to attact major investments.

The minister made reference to a series of foreign investment plans for the Greek market, including that of ExxonMobil.

Sources have confirmed the ExxonMobil intention to set aside 5 billion euros for investments in the Greek market, developments permitting.

Greece launches new tender - OIL & GAS JOURNAL

HOUSTON, Aug. 17 2017

Tayvis Dunnahoe

Greece’s Ministry of Environment and Energy has invited interested parties to submit bids within 90 days from the date of publication of its tender notice in the Official Journal of the European Union.

The tenders were published in the Greek gazette on Aug. 11. Yannis Bassias, director at Hellenic Hydrocarbons Resources Management SA (HHRM), told OGJ, “Although the Greek gazette published the tenders, the official 90-day competition period will start from the day the European gazette publishes the tenders, probably in September.” 

Greece launches new offshore oil and gas tenders - IN CYPRUS / CYPRUS WEEKLY / REUTERS

August 7, 2017

Greece launched two tenders on Monday for offshore oil and gas exploration and exploitation in the west and south of the country, the energy ministry said.

The move follows expressions of interest by a consortium of Total, Exxon Mobil and Hellenic Petroleum for exploration in two sites off the island of Crete, and by Greece’s Energean for a block in the Ionian Sea in western Greece.

Investors will have 90 days to submit offers to the Hellenic Hydrocarbons Resources Management (HHRM) from when the announcement is published in the European Union’s official gazette.

Greece has launched a program to discover more oil and gas, encouraged by recent large gas finds off Israel and Cyprus and spurred on by its protracted financial crisis.

New seismic surveys planned for launch in December - ENERGY PRESS

04/08/2017

EDEY, the Greek Hydrocarbon Management Company (Hellenic Hydrocarbons Resources Management), plans to stage new seismic surveys later this year at an area covering 46,000 square meters south of Crete. This offshore area had been scanned in 2013 by PGS from north to south but will now be looked at from east to west.

The hydrocarbon company is also moving to conduct more detailed surveys in areas west of Crete and south of the Peloponnese covering 11,000 square meters, while PGS will apply new techniques to soon reprocess older data gathered from the Ionian Sea in an area covering 26,000 square meters.

The news concerning these three initiatives, highlighting EDEY’s intention to intensify local hydrocarbon sector efforts, is expected to be announced today in specialized international industry media to promote the prospect of new sesismic data sale purchases by international oil companies.

First exploratory drills for Greek hydrocarbons to start in 2018-2019 - CAPITAL

Monday, 10 July 2017 - 09:29

The first exploratory drills for hydrocarbons in Greece that will provide a clearer picture on the existence and size of the deposits are expected to start in 2018-2019 from the western Gulf of Patras and the offshore field in Katakolon, according to sources of the Athens-Macedonian News Agency.

The sources said interest now is focusing on the one hand on the invitation to a tender for the two large sea areas claimed by Energean Oil and Gas in the Ionian and the sea off western Crete, and the next tenders prepared by the Hellenic Hydrocarbons Resources Management (HHRM) for mainland and offshore areas, ΑΜΝΑ reported.

Hydrocarbon exploration set to open up next year - KATHIMERINI / REUTERS

29.05.2017 : 22:39

Greece will begin the process of opening up new onshore oil and gas prospects to exploration next year, the chief executive of the country’s oil and gas resources management company said on Monday.

Among the first will be the Greek region of Grevena, close to where the Trans Adriatic Pipeline (TAP) will cross, Yannis Bassias, head of the Hellenic Hydrocarbons Resources Management (HHRM), told Reuters in an interview.

TAP, which will bring new gas supplies from Azerbaijan to Italy, runs across northern Greek territory.

“As of next year, and perhaps earlier, we will begin announcing that we are opening the door to whoever is interested in onshore sites,” Bassias told Reuters.