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)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

Westermeerwind Wind Farm Construction Begins

Mammoet announced today that Westermeerwind BV has reached financial close on July 25 for the turnkey construction of the Westermeerwind wind farm in Ijsselmeer,

News

Police Kill 2 Kenyans Suspected of Planning Ferry Attack

Kenyan police said on Friday they shot and killed two armed men suspected of planning an attack on a ferry in the port city of Mombasa after one of them tried to hurl a grenade at approaching police.

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Canal Project Slows Panama Economy Growth

Panama's economy expanded in May at its slowest pace since 2009 as major public works projects, including an expansion of the Panama Canal, slowed or wrapped up,

 
 
Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1653 sec (6 req/sec)