The submission process for an international public invitation to grant exploration licences for the acquisition and processing of non-exclusive seismic data in offshore areas of western and southern Greece has been successfully completed, Environment and Energy Minister Stavros Papastavrou announced.

A total of three bids were submitted by established international companies with extensive experience in seismic surveying.

Under the prescribed procedure, the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) will establish an Evaluation Committee following a decision by its Board of Directors. The committee will be responsible for opening and assessing the submitted bids in accordance with the terms of the invitation. Once the evaluation has been completed, HEREMA will submit its recommendation to the Ministry of Environment and Energy.

Commenting on the completion of the bidding phase, Papastavrou said: “The strong international interest in seismic surveys in Greece, reflected in the submission of three bids from reputable international companies, represents a vote of confidence in our country’s prospects. It confirms that the development of our hydrocarbon sector is maturing beyond the oil companies already operating in Greece. Greece is moving forward with planning, consistency and confidence in exploring and utilising its energy resources. The new seismic surveys will enable us to gain a more comprehensive understanding of the potential of Greek waters and further strengthen international investment interest. With respect for the environment and the rules of international law, we are working to ensure that our country’s potential energy wealth translates into tangible benefits for all Greeks.”

For his part, HEREMA Chief Executive Officer Aristofanis Stefatos said: “The acquisition and processing of new data using the most advanced technologies will contribute to the creation of a more comprehensive database covering both licensed and unlicensed offshore areas. This is an important prerequisite for further assessing our country’s prospects and attracting investment interest.”