Greece’s energy ministry had received three bids for the concession of licences for the surveying and utilisation of hydrocarbons in 20 areas in the Ionian Sea and south of Crete, although capital controls do not allow for the publication of the companies’ names and the specific areas in question.
Bids must reportedly remain sealed because investors are unable to submit the necessary letters of guarantee (amounting to €100,000 per bid), as the tender rules dictated that those letters should be issued by Greek banks or foreign banks with a branch in Athens.
To overcome this, the ministry ruled to open offers 10 working days after the banks opened. With three bids submitted under the interim arrangements, a ministry spokesperson said: “This number can be considered as a positive step in the country’s effort to utilise its undersea wealth.”
Sources reported a bid from Hellenic Petroleum in cooperation with a major multinational, possibly France’s Total and/or Italy’s Edison. It is possible the same consortium submitted all three bids.
Source: Kathimerini