Exploration and exploitation contracts concerning blocks in northwestern Peloponnese, Etoloakarnania, Arta-Preveza, as well as offshore Block 2 in the Ionian Sea – all in the country’s west to northwest – are expected to be endorsed in Greek Parliament within the next few days, energy minister Giorgos Stathakis yesterday told a conference in Patras, western Greece, covering regional development.

“Our shaping of a new development model aims to capitalize on the comparative advantages of the region,” the energy minister highlighted during his speech. “Greece’s western region will play a major role in hydrocarbon research and utilization,” he added.

Latest hydrocarbon sector developments are favorable for Greece and confirm the interest of investors for prospective hydrocarbon deposits in Greece, the minister noted.

The minster noted that environmental protection and job safety measures, based on international standards, would be strictly applied for all projects.