Hellenic Petroleum and equal partner Edison are looking to farm-out a share of the Gulf of Patraikos (West) exploration permit ahead of the drilling of a first exploratory well in late 2019. In early October 2018 the group was setting up a data room. The well, which will be drilled on the Echo prospect, is part of the commitments of the second period (two years).   The 1,892-sq km Gulf of Patraikos (West) block was awarded to a group composed of Hellenic Petroleum (33.3% - operator), Petroceltic (33.3%) and Edison (33.3%) on 24 September 2014. The seven-year exploration term is divided into three periods of three, two and three years. In 2015 Petroceltic transferred its entire stake in the permit to its joint-venture partners. The tract, located to the northwest of the Peloponnese in water depths ranging from 100 m to 300 m, holds potential for oil in the Jurassic, Cretaceous and Eocene series with a working hydrocarbon system proven by the Katakolon oil discovery located 35 km to the south of the block. During the first exploration period the group completed the acquisition and processing of 1,820 sq km of 3D and 325 km of 2D seismic. The second exploration period runs until April 2020.  Interest in the Gulf of Patraikos (West) exploration permit is shared between Hellenic Petroleum SA (50% - operator) and Edison International SpA (50%).  For further information please contact the following:  Yannis Grigoriou  Managing Director  Hellenic Petroleum Exploration & Production of Hydrocarbons  4A Gravias Str, GR 151 25 Maroussi, Greece  Tel : +30 210 6302 945  Mobile: +30 6947 995 625  Fax: +30 210 6302 991  E-mail: ygrigoriou@helpe.gr  Georgianna Petrolia  E&P Business Development and Planning, Head  Gravias Str, GR 151 25 Maroussi, Greece  Tel : +30 210 6302 933  Mobile: + 30 6951 783 788  Fax: +30 210 6302 991  E-mail: gpetrolia@helpe.gr
Hellenic Petroleum and equal partner Edison are looking to farm-out a share of the Gulf of Patraikos (West) exploration permit ahead of the drilling of a first exploratory well in late 2019. In early October 2018 the group was setting up a data room. 