Tuesday 3 July 2018, 17:03:13The 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.
