Enel Applies To Explore For Oil And Gas In Greece

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

 

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)


Energy

Keppel to Deliver First North Sea FPSO

Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

ABS Makes it Safer to ‘Walk to Work’

ABS announced the publication of The ABS Guide for Certification of Offshore Access Gangways. The new Guide addresses certification for safety systems used for “walk to work” (W2W) crew transfers.

News

Coast Guard Foundation Awarded 128 Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Keppel to Deliver First North Sea FPSO

Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading

NASA May Send Submarine to Titan

NASA has unveiled plans to send a submarine into the depths of the largest ocean of Saturn's biggest moon, Titan in a bid to explore the depths of its largest ocean.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair 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: 0.0877 sec (11 req/sec)