Greece invites Russia to tender for offshore exploration licences

Greece invites Russia to tender: As part of its campaign to persuade Russia to give it a gas price discount  and to lift its embargo on its fruit  exports, Greece has invited some of the  major  players in the Russian oil and gas sector to participate in the tender process for deep-sea oil and gas exploration  in 20 offshore blocks in the Ionian Sea and off southern Crete. The government in Athens has also  extended the deadline for interested parties to submit their bids for for the right to test drill in its waters until July 14.
A study carried out  in 2012 reported that  Greece has “at least” $600 billion worth of gas and oil reserves beneath its territorial waters.During a meeting with his Russian counterpart Alexander Novak and Gazprom’s Alexei Miller in Moscow on Monday, Greece’s Energy Minister  Panayiotis Lafazanis also discussed the possibility of extending the proposed Turkish Stream  through Greece.  

Source: ABN