ENEL applies to search for hydrocarbons in Greece

13:07 23/4/2014 - Πηγή: Matrix24

The two areas in the Peloponnese and Aitoloakarnania had originally been included in a first round of concessions in 1996 and returned to the Greek state by the consortiums involved after some mainly shallow exploratory drilling. The Preveza-Arta location, situated between the Ioannina and Aitoloakarnania blocks, is offered for concession through an 'open door' process.

ENEL's applications were carried out via a direct expression of interest process, with the company asking for the launch of a tender

as envisaged under a 2011 law, which allows the concession of hydrocarbon exploration and drilling rights to an interested party for areas not included in another tender process. Under the law, other potential investors have a 90-day deadline in which to submit their own offer.

The environment ministry said it is examining the applications and the appropriate services are expected to submit their recommendation to the minister within the coming days.

Commenting on the group's decision, Environment, Energy and Climate Change Minister Yiannis Maniatis said it indicated that there was now heightened interest in Greece among oil companies.

"This is not just another piece of good news but a vote of confidence in the major national effort we have launched to exploit our mineral wealth. Through the 'open door' process that is now in the last stages before the final signatures on the contracts, the completion of seismic surveys for non-exclusive use that will end with a major round of concesssions within 2014, and with the application of direct expression of interest submitted today, we have the activation of the third branch of the new law 4001/2011 for hydrocarbon exploration and drilling in our country," he said.

ENEL is the largest energy-sector firm in Italy and the second-largest in the EU in terms of install energy supply capacity, with a presence in 40 countries and more than 61 million clients. The Italian finance and economy ministry is the largest shareholder, with a 31.24 pct stake.

source: ΑΜΝΑ