Exxonmobil is expected to sign hydrocarbon survey deal with Greece

The company sees great potential in the Eastern Mediterranean


Sources from ExxonMobil have stated that a delegation will visit Greece in the next days to sign an agreement with Hellenic Petroleum and France’s Total for initial hydrocarbon surveys in Block 2 in the Ionian Sea.

The interest of ExxonMobil for this area adds validity to the argument that there are valuable extractable hydrocarbon resources in Greece. This will probably trigger geopolitical developments in the wider region.

The US company has shown interest for all of the available areas procured by the Greek government and will quite possibly participate in the tender for the available areas south of Crete.

Given that the international competition in the global oil industry has shifted to the Eastern Mediterranean, the American company is trying to strengthen its position in the area. Exxonmobil also participates in the surveying works that take place in the Cypriot EEZ.