Hellenic Petroleum wins Patraikos block

A consortium of three companies has made a successful bid for an exploration concession on the Patraikos block, off western Greece. Hellenic Petroleum (operator), Petroceltic International, and Edison International, will each hold a one-third working interest in the concession.

The Patraikos block is in the Gulf of Patra and covers 1892sq km in 100- 300m water depth. Hellenic Petroleum expects the new concession to be formally awarded to the companies in late 2013. The three-year initial exploration period includes a work program of 2D and 3D seismic data acquisition.

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