Conference On Oil Exploration In Kavala

The oil rig in Kavala, Greece (Photo credit: Wikipedia)

The bay of Kavala off Thasos island will remain the only area in Greece where oil drilling will be conducted, provided that oil reserves are found, given that under the most optimistic calculations no other drilling will be conducted in Greece before 2020, Hellenic Petroleum (ELPE) research and production director Yiannis Grigoriou told an informational event in Kavala organised by the Eastern Macedonia branch of the Technical Chamber of Greece (TEE). At the event, titled "Exploration and Exploitation of Hydrocarbons in Greece", Grigoriou urged politicians to shore up the gaps existing in the relevant legislation and to "go out in search of investors". He said that, if all goes well, in two years from now the first concessions will be made of regions for exploration. When areas of interest are found, this will be followed by the seismic exploration and provided strong indications arise, exploratory drilling will begin. (AMNA)