Greece's Hellenic Petroleum shifts E&P focus abroad while shrinking its upstream role domestically

Greece's Hellenic Petroleum SA (HP) is refocusing its upstream strategy by farming out more of its domestic acreage and expanding its international portfolio in selected regions.The state-owned company is Greece's largest industrial and commercial group.HP's director of corporate planning, Dinos Panas, told OGJ that the company will develop exploration and production operations over the next 5 years by reducing its domestic acreage via farmout and expanding internationally into areas of competitive advantage.HP enjoys exclusive rights for exploration and production over 54,000 sq km of Greece. It has established its first concessions, covering 12,000 sq km of onshore and offsh...

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