We are spearheading the development of Greece’s offshore and onshore oil and gas resources.

According to preliminary estimates, Greece’s subsurface could hold hydrocarbon reserves worth upwards of €250 billion. The exploitation and monetisation of these assets, with a focus on natural gas, could have transformational impacts on the Greek economy, enabling the drive to net zero carbon by 2050, while also fortifying our country’s role as a key driver of energy security at a regional and European level.

In light of the critical importance of accelerating Greece’s upstream sector, in April 2022, hydrocarbon projects were elevated by the Greek state to projects of national importance, drastically accelerating licensing procedures in addition to timings for relevant government approvals.


The rights for the exploration and exploitation of hydrocarbons located within the Greek territory and in areas where the Hellenic Republic exercises sovereign rights pertain exclusively to the Greek state. The management of these rights has been entrusted to HEREMA and their assignment to third parties is made through the conclusion of concession agreements.

Large scale energy projects strengthen Greece’s role as a key driver of energy security

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There are currently eight active concessions for hydrocarbon exploration and production in Greece with the participation of leading investors including ExxonMobil, HELLENiQ ENERGY and Energean.

The Prinos block is in the production phase, Katakolon is in the development phase, while six concessions are in the exploration phase: three offshore blocks located in the Ionian sea (Block 2, Block 10, and the Ionian Block), two blocks offshore Crete (West of Crete and Southwest of Crete), and one onshore block – Ioannina – which is the most mature.