The new alliance created between Exxon Mobil and Hellenic Petroleum within the Greek EEZ, is of great importance as far as the future is concerned, as it will also play a dominant role in the Ionian Sea, due to 1, 2 and 10 marine blocks, as well as South of Crete, due to the new licensing round which will concentrate on marine blocks 12, 13, 14, 15, 16, 17, 18, 19, and 20.
It is additionally interesting for strategic reasons at a political level, because it’s in regards to a contract between a capitalist consortium with a Communist government, whereas initially that seemed inconceivable at the time of the competition due to the refusal of reality, we can now see that the consortium avoided the problem and circumvented the obstacle.
This means that in addition to TOTAL, Exxon Mobil will play an important role, especially in those regions of the Greek EEZ, just as it prior was the case in the Cypriot EEZ.
We are comprehending that we are only in the beginning of a new process which will utilize most effectively the extraction of the Greek hydrocarbons.