29545 - Marine block 10

N. Lygeros
Translated from the Greek by Athina Kehagias

In December 2016, Greek Petroleum was declared the Selected Applicant regarding Marine block 10 of the Greek EEZ in the context of the large licensing round, re: the concession of the right to explore and extract hydrocarbons in 20 marine blocks. And so the story goes for marine block 10 which goes to follow the course of number 2 marine block, in which case, the triple consortium consisting of Greek Petroleum – Total – Edison was selected, and for which there will soon be a signed contract. Consequently, we can see that the licensing round progresses and simultaneously that’s indicative that there is indeed an interest towards the region. Therefore, those who were insisting that there was absolutely nothing taking place within the Greek EEZ, because there’s no data supporting any oil findings, must now admit that the actual data are not consistent with their insistence, and that the Greek EEZ continues its course through the marine blocks in the Ionian Sea region. In other words, the struggle regarding the Greek EEZ is in actual fact justified, as strange as it may seem to those who never believed in it as such. Additionally, because marine block 10 is situated west of Peloponnesos, we in fact have a new area which is activated. What this actually means, is that due to the 2289 Hydrocarbons Law of 1995, and its 4001 amendment of 2011, the Peloponnesian Region would obtain the 5% of the Greek government earnings. In this sense, the support regarding Greece’s upgrowth continues, until we reach the level of Greece’s recovery through the efficient utilization of the Greek EEZ, which actually means that a new licensing round will follow, and which will attract foreign oil companies due to the example which already exists. This, therefore, constitutes a new step forward for our homeland.