Hel.Pe-Total-Exxon Mobil consortium awarded concession for hydrocarbon exploration off Crete


Naftemporiki — A consortium comprised of partially state-owned Hellenic Petroleum (Hel.Pe), Total and Exxon Mobil has been awarded a concession to begin hydrocarbon exploration in sea blocks west and southwest of Crete, according to an announcement on Tuesday by the environment and energy ministry.

The tender invitation for the concession was made in December 2017.

A file covering the entire tender process will be submitted to the Court of Audit for pre-contractual review, followed by the signing of a concession contract between the consortium and the Hellenic Hydrocarbon Resources Management S.A., yet another round signatures by relevant ministers, and finally, submission to Parliament for ratification.

The first sea region southwest of Crete covers nearly 20,000 square kilometres, while the other, west of the large island, is slightly more than 20,000 kilometres.