Companies Submit Bids for Three Licences in Western Greece

A few days after Greece’s Energy Minister Panagiotis Lafazanis comments indicated the country might soon review offshore oil and gas tenders, companies submitted their bids for three oil and gas blocks in the west of the country.

Energean Oil & Gas submitted its bid for exploration and production of hydrocarbons in the areas “Arta/Preveza” and “Aetoloakarnania.” 

“The Energean is the only Greek company with experience in hydrocarbon exploration and production for almost 35 years. In all this time, focusing on activity in Prinos, Kavala, has developed a unique opportunity for our country expertise” Mathios Rigas, CEO of Energean Oil & Gas, commented in a note released on Friday. 

The company said that the international tender is an example of how the country should act to restore the economy of the country. 

The presence of the American investment fund 'Third Point', which manages funds of over $ 12 billion worldwide and is a strategic shareholder of our company, highlights the confidence of the international investment community to the development prospects of the domestic hydrocarbon sector and Greek economy in general… Greece can attract big investors, even with a negative international environment due to the sharp drop in oil prices,’ Rigas concluded, asking for stability of the institutional and fiscal framework.