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Tue, Oct

Greece Eyes Seismic Survey Tenders for New Oil and Gas Hunt

Greece Eyes Seismic Survey Tenders for New Oil and Gas Hunt

Hellenic Shipping News

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Greece is preparing to open the door to a new wave of offshore exploration, with Energy Minister Stavros Papastavrou moving to launch a tender for licenses to conduct fresh seismic surveys across western and southern Greek waters.

HEREMA, the Hellenic Hydrocarbons and Energy Resources Management Company and the state body that oversees Greece’s oil and gas exploration, is launching the process in response to interest from international firms that acquire and process seismic data. These companies would shoulder the cost and commercial risk of the surveys themselves, betting that demand for the results will follow.

The move comes as activity in the Greek hydrocarbons market gathers pace, buoyed by the presence of US majors Chevron and ExxonMobil and by a drilling program taking shape for the years ahead.

Interest from seismic players

According to government officials, the interest expressed to HEREMA comes from companies active worldwide in acquiring and processing seismic data, which judge that the prospects of the Greek market justify new investment.

The preferred model is based on non-exclusive, or

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