Enel Applies To Explore For Oil And Gas In Greece

Posted by Joseph R. Fonseca
Tuesday, April 22, 2014


Italy's Enel has sought permission to explore for oil and gas in Greece, the Greek government said on Tuesday.

Enel has expressed interest in three onshore areas in the western part of the country, Greece's energy ministry said, adding it would duly decide on the Italian company's application.

If permission is granted, Athens will give other oil firms at least 90 days time to submit rival offers for the same areas.

Back in 2001, oil companies including Hungary's MOL and Greece's Hellenic Petroleum searched in vain for oil in two of the blocs Enel is currently considering.

"Enel Group's decision ... is a vote of confidence in our great national effort to exploit our mineral wealth," Energy Minister Yannis Maniatis said in a statement.

Encouraged by big gas finds in offshore areas of Cyprus and Israel that are relatively nearby, cash-strapped Greece has been wooing oil companies to explore and develop its own hydrocarbon potential.

Athens imports almost all its oil and natural gas and spent 15.6 billion euros ($21.5 billion) on fuel imports last year, about 8.6 percent of its gross domestic product.

Greece is separately about to sign exploration concessions for two other western areas with Energean Oil & Gas, the country's only oil producer in which U.S. hedge fund Third Point LLC holds a 44.5 percent stake.

Athens also plans to invite international investors later this year to conduct offshore test drills in its western and southern waters following the completion of seismic tests there.

(Reporting by Harry Papachristou; editing by Jane Baird)

($1 = 0.7244 Euros)

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,

Sandra Weakens to Tropical Storm off Mexico's Coast

Hurricane Sandra weakened to a tropical storm on Friday and was expected to continue losing strength as it approached Mexico's Pacific coast, the U.S. National Hurricane Center (NHC) said.

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of


Panama-Registered Ship Sinks off Vigan City

A Panamanian cargo vessel MV Fortune Life sank off the coast 130 nautical off Vigan City in Ilocos Sur, Philippine Coast Guard (PCG), uthorities said.   The

IMO Assembly Elects New 40-Member Council

The Assembly of the International Maritime Organization has elected the following States to be Members of its Council for the 2014-2015 biennium:    Category

Windrock Names Kelleher Global Business Development Manager

Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st.   In this role, Mr. Kelleher will be

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0829 sec (12 req/sec)