Does another Leviathan lurk offshore Crete?

By Leigh Elston 9 May 2012
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Energy developments in the southeastern Mediterranean. (Pytheas Investor Service) Energy developments in the southeastern Mediterranean. (Pytheas Investor Service)

Greece is the latest country to join the dash for East Mediterranean gas. While a decision on the multi-client seismic tender, initially intended for April, has been delayed until the tumult of the elections subsides, the government could still make a pre-announcement on an offshore exploration licensing round as early as October.

Eight companies have submitted bids to conduct geological surveys for oil and gas reserves in the Ionian Sea and waters south of the island of Crete. These are: ION Geophysical, TGS-NOPEC, Dolphin Geophysical and Petroleum Geo-Services, CGG Veritas, Spec Partners, Spectrum Geo and Fugro Multiclient Services.

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