There is intense ferment in the hydrocarbons market as competition for marine plots intensifies. And while last week's news may have been Chevron's entry into the Greek hydrocarbon market, BnB Daily reports that Helleniq Energy may also express interest in the same plot. Something that remains to be confirmed if and when a final decision is made by the management. 

EXXON MOBIL

At the same time, eyes are also turning to Exxon Mobil, as it is reportedly set to make a final investment decision on the Crete fields in the coming months. The multinational giant's moves are on the radar following its decision to drill in Cyprus. Specifically, it was officially announced that the company and Qatar Energy will start drilling in Block 5 of the Cypriot EEZ, which was announced in a post by Cypriot President Nicos Christodoulides. 

THE PROBLEMS

In any case, energy market players, speaking to BnB Daily, believe there are several steps before we see drilling in the country. This is because there is opposition from NGOs and municipalities, who may delay the procedures with appeals, while the public sector and government agencies are moving slowly, and there is a risk that the hydrocarbon exploration and extraction program could be derailed again and the positive timing of developments, internationally, could be lost. 

THE NEXT MOVES 

Within the next few days, the tender notice will be published, following a recommendation from the Hellenic Hydrocarbons and Energy Resources Management Company (Hellenic Hydrocarbons and Energy Resources Management Company), which concerns the licensing of new areas with a view to awarding exclusive rights for hydrocarbon exploration and production. The RFP will include four main sub-envelopes:

• legal documents
• financial capacity documents
• financial capacity documents; financial capacity documents; technical capacity documents
• competitive elements

and will be published in the Official Journal of the European Union and in the Official Journal of the European Union for 90 days. Once the tenders have been submitted by interested parties, the evaluation of the tenders will be carried out by a committee of the Greek Authority.