Seatrade: Greece to offer oil and gas companies tax cuts to develop offshore fields

Greece's Energy minister, Yiannis Maniatis spent the first days of July in London launching the country’s most ambitious programme so far to develop its untapped hydrocarbon potential.

Greece has made several fruitless attempts over the years to find big reserves of oil or natural gas as it bids to reduce fuel import bill which ran to $21.2bn, some 8.6% of its GDP in 2013.

Encouraged by gas finds offshore from nearby Israel and Cyprus, though these may not be as large as first thought, Greece is so determined to raise interest among oil and gas majors and Maniatis offered a carrot unheard of in Greece in recent years… a cut in tax.
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