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Kyriakides Georgopoulos Partner Invited to Join Hydrocarbon Research Concession Agreement Signing Ceremony

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Kyriakides Georgopoulos Law Firm Partner Gus Papamichalopoulos attended what the firm is describing as "the historic signing of the three concession agreements for hydrocarbons research in the areas of the Western Patraic Gulf, Ioannina, and Katakolo."

The signing ceremony took place on May 14, 2014 at the Greek Ministry of Environment, Energy and Climate Change, where Minister Ioannis Maniatis signed the agreements in the presence of  Evangelos Venizelos (the Greek Deputy Prime Minister and Minister for Foreign Affairs), Edward Davey (Her Majesty’s Principal Secretary of State for Energy and Climate Change), and and other foreign dignitaries, market leaders, and energy experts.

According to the firm, the three concession agreements signed with three different concessionaires after unanimous approval by the tenders review committee were:

  • For the offshore area of the Western Patraic Gulf -- the concessionaire is the joint venture of Hellenic Petroleum, Edison and Petroceltic;
  • For the onshore area of Ioannina -- the concessionaire is the joint venture of Energean Oil & Gas and Petra Petroleum; while
  • For the area of Katakolo (both onshore and offshore) -- the concessionaire is the joint venture of Energean Oil & Gas and Trajan Oil & Gas.

The signing of these agreements marks the end of a two-year journey and paves the road for the first hydrocarbon research activities in Greece in decades. The area of Katakolo, in which reserves were discovered in 1982, expects to see production within the next three years.

Papamichalopoulos, Head of the Energy, Natural Resources & Utilities and Oil & Gas practice groups at Kyriakides Georgopoulos, was invited by the Ministry to join the signing ceremony. He also represented the Institute of Energy of South East Europe (IENE) in his capacity as General Secretary, along with Yiannis Hadjivasiliadis, the Chairman of IENE. 

 

 

 

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