Three contracts will be signed today at the Ministry of Environment regarding the location and mining of oil and natural gas in Ioannina, the Western Gulf of Patra and Katakolo. The contracts will be effective as soon as they are ratified in Parliament.
The Prime Minister Antonis Samaras, government Vice President Evangelos Venizelos and Environment Minister Yannis Maniatis special ceremony will be present at the special ceremony.
The contract in Ioannina will be signed with the Energean Oil and Gas / Petra Petroleum group, in Katakolo with Energean Oil and Gas / Trajan Oil & Gas Ltd, while in the Gulf of Patra, the deal with be with the Hellenic Petroleume / Edison / Petroceltic group.
The companies have committed to investing a minimum of 60 million euros, while estimations regarding the volume of hydrocarbons in the three areas suggest that there could be up to 300 million barrels of oil. The government estimates that it will collect up to 18 billion dollars over 30 years.