Total, Exxon interested in oil and gas exploration off Crete

A joint venture of Total, ExxonMobil, and Hellenic Petroleum (HELPE) has submitted an official application of interest to explore for hydrocarbons in two blocks off the Greek island of Crete.

The joint venture, with Total as the operator, on Wednesday submitted the application to the Ministry of Environment and Energy and to EDEY, the Greek Hydrocarbons Management Company, expressing its interest to explore for hydrocarbons in two adjusted offshore blocks in Crete.

According to a statement by Greece’s oil company, Hellenic Petroleum, the companies expressed their willingness to explore in these deep water frontier areas, anticipating the Greek state to accept the application and release an international tender, as per the Greek Hydrocarbons Law in force.

President of Hellenic Petroleum, E. Tsotsoros, noted: “If indeed the existence of exploitable hydrocarbons is verified, it is certain that our country will enter a new era, with obvious benefits for the national economy and the local communities, and will contribute to the geopolitical and energy upgrade of Greece.”

The company’s CEO, Gr. Stergioulis, said: “The three companies combined, Total-ExxonMobil-HELPE, compose a powerful business venture that possesses specialized and advanced expertise as well as robust financial magnitude, which are required for the successful outcome of the complicated endeavor of deep water exploration.

“The Hellenic Petroleum Group is fully aware of the responsibility of undertaking such an effort of unprecedented complexity, and commits to proving worthy of the Greek Government’s trust, if it is selected.”

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