Bernard Clement

Exxon, Total get license to explore off Crete

Greek Prime Minister Alexis Tsipras (c back), US Ambassador Geoffrey Pyatt (r back), French Ambassador Christophe Chantepy (l back), Hellenic Hydrocarbon Resources Management President Yannis Bassias (l front), Hellenic Petroleum General Manager George Alexopoulos (2nd l front), Energy Minister Giorgos Stathakis (3rd l front), Total Group's Vice President for the Caspian & Southern Europe B

Total, Edison sign lease agreement for Ionian hydrocarbon block with Greece

The contract for the concession of oil and gas exploration rights in a block west of Corfu in the Ionian Sea was signed on Tuesday by representatives of Total, Edison and the Greek state. The corporate representatives expressed "realistic expectations" regarding the quality of the hydrocarbon reserves, along with concerns that the concession's completion could be subject to further delays.