Israeli Company Interested In Cretan Gas
Executives of Israeli energy group Delek will visit Athens within the week to hold exploratory contacts with Greek authorities, sources told Capital.gr.
These contacts will mainly focus on business, but contacts with the Ministry of Environment, Energy and Climate Change shouldn’t be excluded.
The interest of Delek focuses on the area south of Crete, which could be used for research and production of hydrocarbons, according to maps presented by the ministry. The interest is not official, only exploratory will take place.
However, Capital.gr was told that executives of Avner Oil Exploration, a Delek’s subsidiary, would arrive in Athens. Avner and Delek Drilling are two Delek group companies, which hold the rights to exploit the much-talked deposits in Eastern Mediterranean, along with Ratio Oil and American Noble Energy. Moreover, Delek has indirect involvement in Cyprus, as it holds a stake of 5% in Noble Energy.
Under the new law on hydrocarbons and new regulations, promoted by Deputy Energy Minister G.Maniatis, there are three options for research and production of oil. The interest bids are assessed, and the ministry issues an invitation within 90 days.
Ministry has made no formal comments regarding the potential interest of specific companies in the area south of Crete. However, G.Maniatis said recentrly that there is liveliness in the area and there might be drilling by the end of 2012.
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