Kathimerini: Greece gets strong interest in oil, gas blocks, minister says

Investor interest in bidding for permits to explore for oil and natural gas off Greece is stronger than expected, Energy Minister Yiannis Maniatis said.

“More than 10 international petroleum companies have expressed interest in the Ionian Sea and south of Crete, which is better than we expected,” Maniatis said in an interview in Athens. “We now know for sure that there are hydrocarbons in Greece and that exploring for them makes economic sense.”

Greece wants to exploit potential reserves as part of efforts to boost growth amid a six-year recession that’s left than one in four jobseekers unemployed. An initial evaluation of seismic survey data in the Ionian and south of Crete shows structures similar to oil-bearing areas in southeastern Italy and Albania, the Energy Ministry said Jan. 29.
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