The Ministry of Environment, Energy & Climate Change (YPEKA) has provisionally awarded the offshore Ionian concession to Repsol (50% + Op) and Hellenic Petroleum (50%) on 21 November 2018. The partners will now finalise the contract with the state regulator Hellenic Hydrocarbon Resource Management (HHRM) before the award is formally ratified. Ionian spans 6,671 sq km in the Ionian Sea including block 3 and parts of blocks 4, 6 & 7. Energean Oil & Gas originally submitted an out-of-round expression of interest for the block on 2nd June 2017 to prompt a public call, with tender documents published in the Greek state gazette on 11 August 2017, and then posted in the European Journal on 2 December 2017. However during the tender period only a single bid was made from Repsol and Hellenic. The Greek state is currently selling a majority stake in Hellenic Petroleum however it is understood that the state will separate the E&P division to retain a controlling interest.
Greece, Ionian