ELPE (Hellenic Petroleum) is looking to establish exploration and production partnerships, its managing director Grigoris Stergioulis has announced following yesterday’s news that the Greek oil refinery was awarded licenses for two blocks, one in Arta-Preveza, the other in northwestern Peloponnese.
The Arta-Preveza block had also attracted a bid from Energean Oil & Gas. ELPE was the sole bidder for the northwestern Peloponnese. A third license, for Etoloakarnania, was awarded to Energean Oil & Gas, the only bidder for this block. All three blocks are located along Greece’s west side.
“We are seeking to establish entrepreneurial partnerships with oil companies that may contribute ideas, knowhow, and solid financial backing. We’re starting off independently but are open to partnerships and proposals that are based on – and meet – international industry regulations,” Stergioulis declared, adding that it is a non-negotiable duty for the company to apply all available technological means in order to locate and exploit any hydrocarbon deposits that may exist for the nation’s wider interests.
Stergioulis described the company’s interest to discover oil and natural gas in Greece as a strategic objective which the company is investing in. ELPE is backed by major comparative advantages such as accumulated experience gained from exploration work conducted, to date, in a total of 39 areas, both locally and abroad; acquired knowhow; and thorough knowledge of the Greek territory.
ELPE also heads a partnership – as operator – with Italy’s Edison for offshore exploration work concerning a licence in the Gulf of Patras, western Greece. Extensive geophysical survey work is already underway at this block.