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OIL & GAS EXPLORATION & PRODUCTION

Τhe Group’s main activities in Exploration and Production focus on Greece:

  • The Group participates, with 25%, in a consortium with Calfrac Well Services Ltd (75%) in the Thracian Sea Concession area, in the North Aegean (1,600 sq km) where geological studies are currently being carried out.
  • HELLENIC PETROLEUM participates, as an operator, through its 100% owned subsidiary HELPE PATRAIKOS (50%) in an international consortium with EDISON International SpA (50%) in the Lease Agreement with the Greek State in an offshore area in the West Patraikos Gulf, with a total area of 1,419 sq. km. Following the confirmation and mapping of the primary geological objective, offshore works related to the assessment of possible geo-hazards and extensive environmental sampling have been completed. Currently, the environmental surveys and studies related to the 1st exploration well –which is planned to take place at the end of2020- are ongoing. Preparatory work for the drilling is also underway.
  • As a result of various international tenders, HELLENIC PETROLEUM has been awarded hydrocarbons exploration and exploitation rights in two onshore areas, namely the "Arta - Preveza" area, where geological, geophysical and environmental studies, as well as permitting procedures are ongoing and the "Northwest Peloponnese” area, where geological, geophysical and environmental studies are expected to be carried out in 2020.
  • The consortium consisting of Total 50% (Operator), Edison (25%) and HELPE (25%) holds the exploration and exploitation rights for offshore Region 2, West of Corfu. In those areas, a geological and environmental studies program is being implemented in line with contractual obligations.
  • In offshore Block 10 in the Ionian Sea (Kyparissiakos Gulf), in 2019, HELPE was awarded exclusive hydrocarbons exploration and production rights and geological and environmental studies are currently ongoing.
  • HELLENIC PETROLEUM has submitted an offer for the offshore Block 1, north of Corfu.
  • During 2019, the Greek Parliament ratified the lease agreements regarding the offshore blocks ‘West Crete’ and ‘South West Crete’ (TOTAL - 40%, Operator, ExxonMobil 40%, HELPE 20%) where the 1st exploration phase is in progress with geological and environmental studies, as well as Ionian Block (Repsol – Operator 50%, HELPE 50%), where geological and environmental studies are ongoing.