Albania-Greece: Gov open procedure and starts searching for oil

11. July 2014. / SEE Energy News

Greece has started the procedures for oil research in 20 areas, covering 225,000 square kilometers divided in 20 blocks that will be offered for tender in a few days.

There are 20 international oil companies that have completed the final selection phase. Among them are elected the giants “BP”, “Exon Mobil”, “Chevron”, “Stat Oil”, etc.

The Greek Deputy Minister of Energy, Iannis Maniatis, declared that they were optimistic for the new fast pace of tender procedures. He said that Greece has huge quantities of gas and oil, which might mount up to 20 billion EUR of profits for Greece in the next 20 years, and will turn their country into one of the biggest producers in the region.

Greece us very optimistic about the oil presence in these areas, especially after they found huge oil reserves near Cyprus and the Ionian islands, which is the same oil-containing layer of Patos-Marinza.

What attracts attention, is the map published by the Greek Ministry of Energy, which covers even the disputed area with Albania. These are still exclusive territories of Albania, but they will pass to Greece after the agreement signed by the Berisha government, but that was rejected by the Constitutional Court.

Although this agreement has no legal power, it seems that Greece has not agreed with the decision of the Albanian Court. Greek authorities gave also announced that they expect Albania to sign this agreement again, with the same conditions.

In fact, a few hours after Albania received the candidate status, the Greek Foreign Minister has noted that Greece helped Albania with the candidate status, and Albania should now fulfill a series of new criteria, listing among them the ratification of the international borderline with Albania.

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