28490 - New phase for the Greek EEZ

N. Lygeros
Translated from the Greek by Athina Kehagias

The new concession regarding Marine block 2 constitutes a phase change for the Greek EEZ, since it is a small utilization on a practical level. Cyprus also begun its utilization with a single marine block, number 12, where the Aphrodite reserve was located. In marine block 2, the Pyrrhus reserve is located upon the Greek and Italian demarcation line. Consequently, we also have a co-operation context formed with this decision. Additionally, the fact that we have a triple consortium with three Mediterranean countries, ie, Greece, Italy and France, creates an alliance context in the region, with players who are also playing in the Eastern Mediterranean and dynamically at that. This initiation, changes the Greek EEZ data, because it is no longer a vision but a practical perspective. Some would definitely say that we could have more marine blocks in this licensing round, but the bottom line is that Greece finally begins the procedure of the utilization of her hydrocarbons, even though it had to overcome that many obstacles, both ideological and bureaucratic. With this new phase we will leave behind those who were unable to develop themselves and remained at the same data which convinced them that Greece didn’t obtain any reserves. But science and technology allow for the utilization of our reserves, and the creation of Greece’s future.