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positive: the wider area of the South-Eastern
Mediterranean has attracted the interest of the
so-called “oil-majors”, following the significant dis-
coveries made in Israel and Cyprus. Given that
there is inter-party consensus on the issue, the
field of hydrocarbon exploration becomes the
focal point for the implementation of Greece's
“national energy strategy”. After all, the develop-
ments in Cyprus and the remarkable prospects of
exploration in Greece, have attracted attention all
over Europe and have been included in the ener-
gy agenda of Brussels. Although these discover-
ies are soon to be reevaluated at the senior level,
I
nvestments, jobs, tax revenues and royal-
ties: the oil exploration and production mar-
ket has literally risen from its ashes, creating
well-grounded expectations that it can become a
pillar for Greece's recovery and growth. After fif-
teen years of inactivity, major steps were recently
taken in order to restart hydrocarbon exploration
and establish the conditions for attracting invest-
ments in the sector. The first fruits of these efforts
are already visible; however, we still have a long
way to go until the rigs are actually installed in
Greece.
In any case, the market's momentum is rather
Trade with Greece
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Oil and gas
exploration changes
the energy map of
the Mediterranean