The marine blocks 1, 2 and 10 aside, in the Ionian sea’s first licensing round, we now have a new marine region in the Greek EEZ named Ionion.
The Energean Oil’s application which was accepted by the Greek government has resulted to a new licensing round and a competition, which follows the data generated with the marine regions of Western Crete and South West Crete.
Now the Regional Ionion has also gained an added value.
It had already obtained a lead in relation with other Regional Administrations since it was able to attract the interest of the Total-Edison-Hellenic Petroleum consortium from the beginning of the first licensing round for marine block 2 where the Pyrros and Achilles reserves are located.
Consequently, it was proven from the outset that the Ionian Region will play an important role for Greece’s future and for its development.
However now with this new marine region the entire context has been enhanced, since we are now talking about 4 marine regions in total.
The good thing for the Regional Administration is that on account of the Hydrocarbons Act 2289/1995 and the associated Amendment 4001/2011, it will enjoy a 5% of the Greek State’s earnings in relation to the contracts it will sign in these regions as they are within its jurisdiction.
Additionally, as we’ve written in regards to the Region of Crete and for the Region of Peloponnisos, it will be able to participate during the negotiations with the companies and consortiums which are candidates.
This in actual fact means that they have to get in contact with the Ministry of Energy but simultaneously with the municipalities that have direct interest, in order to get informed about the entire process re: the exploration and extraction of hydrocarbons.
Because now with the new data we are no longer talking about a merely experimental research approach.
It’s regarding a strategic action which will influence and support the economy and development of the Region.
It is therefore legitimate for a series of contacts to take place with certain units, as well as briefings towards the people about these spectacular changes for the future of Greece.