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Greece awards four blocks to foreign firms

Dec. 30, 1996

Greece's state petroleum company has awarded four exploration licenses to foreign firms. Awards by Public Petroleum Corp. of Greece, Exploration & Exploitation SA (DEP-EXY), Athens, follow opening for bidding of three onshore and six offshore blocks under the country's first exploration licensing round, in November 1995 (OGJ, Oct. 23, 1995, p. 48). The Northwest Peloponnesos and Ioannina licenses were awarded to operator Enterprise Oil plc, London, 66% and Union Texas Petroleum 22%,

Greece's state petroleum company has awarded four exploration licenses to foreign firms.

Awards by Public Petroleum Corp. of Greece, Exploration & Exploitation SA (DEP-EXY), Athens, follow opening for bidding of three onshore and six offshore blocks under the country's first exploration licensing round, in November 1995 (OGJ, Oct. 23, 1995, p. 48).

The Northwest Peloponnesos and Ioannina licenses were awarded to operator Enterprise Oil plc, London, 66% and Union Texas Petroleum 22%, with state firm DEP-EXY holding 12%.

Both tracts are onshore and cover 2,000 sq km and 4,200 sq km, respectively.

Triton Energy Corp., Dallas, was awarded operatorship and an 88% interest in the Gulf of Patraikos (West) and Aitoloakarnania tracts, with DEP-EXY again taking 12%.

Triton's licenses are on an offshore block covering 2,100 sq km and an onshore block covering 3,700 sq km, respectively.

A DEP-EXY official told OGJ exact details of license obligations are still under discussion with the companies and will be made public early in 1997.