300 Oil Companies Eye Ionian & Cretan Hydrocarbons

 (Photo credit: kenhodge13)

More than 300 foreign oil companies have contacted the Greek Ministry of Environment, Energy and Climate Change, and expressed interest in the promising results from the seismic  surveys that were conducted from the Norwegian company, Petroleum Geo-Services (PGS) in the Ionian sea area as well as Crete.

Press reports in Athens claim that some of these companies are looking to purchase the data and once the Greek government launches the rights later on this year they will also participate in further exploration.

Of course the interest by more and more companies will heighten between March and April of this year, when the Greek ministry receives the analytic results from PGS.

Experts are analyzing the data as we speak and once this process is completed Greek authorities will have a clearer picture as to whether any commercially viable hydrocarbon deposits are present in Greek controlled areas and whether they relate to oil or natural gas.

In order to accommodate any such inquires, the Ministry of Environment, Energy and Climate Change is planning to begin operating a “data room” where interested companies will have access to the primary research material some time later on in January.