On 8 June 2018 the Ministry of Environment approved the transfer of a 60% stake and operatorship in the Aitoloakarnania exploration permit from Energean Oil & Gas to Repsol. The effective date of the transfer will the date of the reception by the licensing authority Hellenic Hydrocarbon Resources Management (HHRM) of the required documents (notarial act of transfer and a modified bank guarantee). The deal was announced in March 2017.  Energean was selected as preferred bidder for the Aitoloakarnania block on 4 February 2016. The block was part of the âCall for Tenders for the exploration and exploitation of hydrocarbons Onshore Western Greeceâ, which was launched in 2014. The contract was officially awarded to the company on 15 March 2018 upon publication of the ratification of the contract by the Greek parliament in the official gazette.   When the transfer will be effective, interest share in the Aitoloakarnania exploration permit will be shared between Repsol Exploracion Aitoloakarnania SA (60% -operator) and Energean Oil & Gas SA (40%).
Ministry of Environment approved the transfer of a 60% stake and operatorship in the Aitoloakarnania exploration permit from Energean Oil & Gas to Repsol.