Thursday, May 22, 2014
Greek authorities approved on Wednesday (May 21) an application by the Italian energy group ENEL to search for oil and natural gas in three onshore areas in the west of the country.
Environment, Energy and Climate Change Minister Yiannis Maniatis accepted ENEL’s application to conduct test drillings to the regions of Arta-Preveza, Aetoloakarnania and Northwestern Peloponnese and will soon set the coordinates of the regions to be searched. The application refers to the. The ministry announced that past research in the above areas proved significant geological and geophysical data, showing a interesting, shallow and deep structures to be searched.
Other oil firms will now be invited to submit rival exploration offers for the same three blocs later this year, in line with Greece's "open-door" hydrocarbons licensing rules. The 90-day deadline to do so is expected to begin in July, the energy ministry said in a statement.
Greek News Agenda: Hydrocarbon Deals Sealed