HELPE PATRAIKOS
HELPE Patraikos Exploration and Production of Hydrocarbons Single Member S.A., participates as a 50% Operator in a consortium with EDISON International S.p.A. (50%), in the Lease Agreement with the Greek State in the marine area of the West Patraikos Gulf, (total area of 1,419 sq. km in the second exploration phase).The Lease Agreement was ratified by the Greek Parliament and has the force of law (Law 4299/3.10.2014). The Lease Agreement covers an eight (8) year exploration period, divided into three separate phases, and in the case of a commercial discovery a twenty five (25) year development and production phase of the deposits is foreseen.
During the first exploration phase, exploration works were carried out exceeding the minimum contractual obligations, including new regional two-dimensional (2D) seismic lines of 325 km in total, and a new 3D marine seismic acquisition survey covering an area of 1,822 square meters. Data on existing seismic lines with a total length of 2,000 km has also been reprocessed.
Furthermore, geological, geophysical and environmental studies were carried out in order to understand the geology of the area and define potential hydrocarbon deposits, which have confirmed and mapped the primary geological target.
HELPE PATRAIKOS and partner Edison International have entered the second exploration phase on April 3rd 2018 with a minimum contractual obligation of drilling one exploration well. Upon entering the second exploration phase and before drilling the exploration well, HELPE PATRAIKOS is committed to prepare and submit all relevant environmental studies.
The strategic objective of HELPE Patraikos, as a member of Hellenic Petroleum Group, is the exploration of hydrocarbon deposits in the area of Patraikos Gulf and their future exploitation for the benefit of the country and local communities with the outmost respect for the environment and local socioeconomic activities. A key element of the environmental policy is upholding Greek and European legislation, which is constantly reviewed and sets strictest environmental operation requirements.