Greece: Energean, Petra apply for Ioannina license

By OGJ editors

Energean Oil & Gas SA, Athens, and Petra Petroleum Inc., Vancouver, BC, have applied under Greece’s open door process to license the 4,187 sq km Ioannina contract area onshore in northwestern Greece.

If chosen to negotiate a license agreement, Energean would be operator with 80% interest and Petra would hold 20%. The block is on trend with producing fields and large discoveries to the north in Albania and is geologically similar to Italy’s producing Southern Apennines, Petra said (see maps, OGJ, Mar. 27, 2000, p. 30; OGJ, Feb. 12, 1996, p. 59).

The application is subject to evaluation by the Hellenic Republic Ministry of Environment, Energy and Climate Change.

Energean is the sole current oil and gas operator in Greece, where it operates the Prinos and South Kavala offshore development areas with 100% interest. Petra in May applied for licenses in the Mediterranean offshore Spain and Cyprus.

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