Greece will offer six blocks in licensing round

Three onshore blocks and three offshore blocks in western Greece will be open for bidding under the countrys first exploration licensing round. Public Petroleum Corp. of Greece, Exploration & Exploitation SA (DEP-EKY), Athens, will open the licensing procedures at the end of November. A Nov. 30 meeting in London will provide details of the blocks on offer. A similar meeting will take place Dec. 7 in Houston. Simon Petroleum Technology Ltd., Llandudno, U.K., is to act as adviser and compile data

Oct. 23, 1995

2 min read

Three onshore blocks and three offshore blocks in western Greece will be open for bidding under the countrys first exploration licensing round.

Public Petroleum Corp. of Greece, Exploration & Exploitation SA (DEP-EKY), Athens, will open the licensing procedures at the end of November.

A Nov. 30 meeting in London will provide details of the blocks on offer. A similar meeting will take place Dec. 7 in Houston. Simon Petroleum Technology Ltd., Llandudno, U.K., is to act as adviser and compile data packages.

Offshore blocks on offer are Paxi-Parga, covering 2,000 sq km; Gulf of Patraikos (West), 2,100 sq km; and Offshore Katakolon, 1,900 sq km.

Onshore tracts on offer are Northwest Peloponnesos, 2,000 sq km; Aitoloakarnania, 3,700 sq km; and Ioannina, 4,200 sq km.

Nigel Duxbury, SPTs regional business development director, said companies will be given 6 months to evaluate the licenses prior to submitting tenders by the end of May 1996.

Once bidding is complete, DEP-EKY will study proposals and open negotiations with bidders. No date has been set for license awards.

Whats been found

Duxbury said the Greek state oil company has drilled on the acreage, and international companies have drilled a few wells. A subcommercial oil and gas discovery has been made in the Katakolon contract area.

Data packages will contain 2D seismic and well data, while some 3D seismic data have been acquired over Katakolon.

Duxbury said there are a number of exploration prospects under the acreage on offer, which will be detailed in full at the meetings.

SPT said besides the Katakolon discovery, western Greece has widespread hydrocarbon occurrences in wells and seeps throughout the area to be licensed.

Exploration to date has focused on carbonate reservoirs beneath the basal Neogene unconformity and on Oligocene clastics in structures within the Hellinide fold and thrust belt, SPT said. In addition, recent data have allowed imaging of deeper plays beneath the major thrust faults and in Mesozoic extensional fault blocks. Copyright 1995 Oil & Gas Journal. All Rights Reserved.