ExxonMobil talks with ELPE-Total-Edison for Corfu block after Easter

A prospective meeting between a consortium comprised of Total, Edison and ELPE (Hellenic Petroleum) and ExxonMobil for talks over a possible partnership enabling collaborative exploration of an offshore block in the Ionian Sea, west of Corfu, marked out as Block 2, is expected to take place following the Easter break.

The signing, almost a month ago, of a Block 2 exploration and exploitation license between the consortium and local authorities was reportedly endorsed by Greek Parliament just days ago.

Details concering the roles to be played by the two sides in a prospective partnership for Block 2 are expected to be explored at the upcoming meeting.

In comments made last last month, Yannis Grigoriou, ELPE’s Hydrocarbon Exploration and Production Manager, noted that seismic survey work for Block 2 could be launched by early 2018.

ExxonMobil has been engaged in talks with ELPE for quite some time now to look into the possibility of joining the Greek company for exploration and exploitation work at a total of six blocks licenced to ELPE. The acquisition of new blocks is also being considered. The unexplored offshore region south of Crete is a top priority.

ELPE, Total and Edison were offered a license for Block 2, west of Corfu, last October following the launch of an international tender back in November, 2014. A total of 20 offshore blocks in the Ionian Sea and south of Crete were made available to investors.