Parliament of Greece approves oil & gas deals
On September 18th, the Parliament ratified three concession contracts for blocks between the Hellenic Republic and a) Energean Oil & Gas/Petra Petroleum, b) Energean Oil & Gas /Trajan Oil & Gas LTD, and c) Hellenic Petroleum / Edison / Petroceltic. The areas where hydrocarbon exploration and drilling has been approved are the onshore block of Ioannina, in the Region of Epirus, the offshore block of Patraikos, and Katakolo, in W. Peloponnese. Also ratified by parliamentary law was a fourth contract with Kavala Oil S.A./Energean Oil and Gas/Hellenic Petroleum S.A., which modifies a 1999 contract for the offshore area of the Thracian Sea. Despite the Minister’s expressed concerns about the possibility of shale gas extraction in Greece, on environmental grounds, the ratified contracts for onshore exploration do not exclude fracking.