The JV of Total (operator), ExxonMobil and Hellenic Petroleum submitted to the Ministry of Environment and Energy and to EDEY an official application expressing its interest to explore for hydrocarbons in two adjusted offshore blocks in Crete.

The three companies thank the authorities for the meeting, during which they expressed their willingness to explore in these deep water frontier areas, anticipating the Greek State to accept the application and release an international tender, as per the Greek Hydrocarbons Law in force.

The technical expertise and the robust financial position of the partners ensure any works will be performed at the highest professional standards, with the utmost respect to the protection of the environment and to the local communities.

In a statement, HELPE BoD Chairman, Mr. E. Tsotsoros noted:

“Today, the three Companies that comprise the Joint Venture, transform into action their will to collaborate, in order to explore potential Hydrocarbon reserves in the Greek territory. The long period of anticipation, confabulation and sensationalism will be substituted by scientific validation. If indeed the existence of exploitable Hydrocarbons is verified, it is certain that our country will enter a new era, with obvious benefits for the national economy and the local communities, and will contribute to the geopolitical and energy upgrade of Greece.”

HELPE CEO, Mr. Gr. Stergioulis made the following statement, in reference to today’s developments:
“The three Companies combined, TOTAL-ExxonMobil-HELPE, compose a powerful business venture that possesses specialized and advanced expertise as well as robust financial magnitude, which are required for the successful outcome of the complicated endeavor of deep water exploration. The
HELLENIC PETROLEUM Group is fully aware of the responsibility of undertaking such an effort of unprecedented complexity, and commits to proving worthy of the Greek Government’s trust, if it is selected. We aspire, as a Group, to contribute substantially to the efforts of our country to revert to steady Growth rates and to becoming an energy hub of significant importance for the wider region of SE Europe and the Mediterranean.

About Hellenic Petroleum

Hellenic Petroleum is a dynamic Group with solid foundations, holding a leading position in the Greek energy sector as well as in the greater area of Southeast Europe.
The Group’s range of activities includes:
- Supply, Refining and Trading of petroleum products, both in Greece and abroad.
- Fuels Marketing, both in Greece and abroad.
- Petrochemicals/Chemicals Production and Trading.
- Oil & Gas Exploration and Production.
- Power Generation & Trading.
- Renewable Energy Sources.
- Provision of Consulting and Engineering services to hydrocarbon related projects.
- Participation in the transportation of crude oil and products (pipe-lines, sea transportation).
The Group has successfully completed a 5-year investment plan amounting to €3bn, including the upgrade of the Elefsina Refinery, the largest private manufacturing investment in Greece. The new refinery has a significant impact on the Group’s profitability, while accruing multiple benefits for the environment, the employment and the national economy.

About Total

Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.

About ExxonMobil

ExxonMobil (NYSE: XOM), the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.