Data on hydrocarbon exploration complete - Available to oil companies by end of Feb.

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Great news. The environment, energy and climate change ministry announced that the processing of seismic survey data collected by Norwegian company PGS in the Ionian Sea and south of Crete has been completed. The data, says a report from the state news agency, which includes information on 12,500 km of seismic lines, was loaded onto the "Greece MegaProject" database operated by the ministry, and will be available to oil companies by the end of February.

     "The preliminary data evaluation revealed an interesting geological formation similar to areas already producing hydrocarbons in neighboring countries," Environment, Energy and Climate Change Minister Yannis Maniatis said, stressing that "the interpretation of the data that will follow in coming months will reveal the most attractive regions in relation to oil capacity."

The ministry decided to present the data collected at international conventions and to brief various oil companies regarding all activities in progress. In addition, in a few days the ministry will begin promoting Greece in international oil markets with a delegation's participation in the NAPE convention in Houston, Texas on February 4, attended by thousands of oil companies representatives.

The Minister also briefed foreign ambassadors regarding investment opportunities in relation to oil sector in Greece.