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Eight Companies Bid To Survey For Oil Off Greece

ATHENS -(Dow Jones)- Greece received expression of interest from eight companies to conduct seismic and geological surveys for oil in its western seas, as Athens seeks resources to cut its energy imports bill, the energy ministry said Friday. The bidders are: Norway's TGS-NOPEC Geophysical Co. ASA (TGS.OS), Fugro Multiclient Services AS, Spectrum Geo Ltd., Dolphin Geophysical and Petroleum Geo-Services, U.S. company ION Geophysical Corp. (IO), France's CGG Veritas (CGV) and the U.K.'s Spec Partners Ltd., a ministry statement said. The firms are interested in conducting seismic research for hydrocarbons in the Ionian Sea and the sea south of the island of Crete. The evaluation of tenders will be completed by early April, so that the successful bidder or bidders can proceed immediately with research and then interpret the data that will arise, the statement says. The Greek Energy Ministry aims to launch a tender for exploration and exploitation of hydrocarbons in the area by the end of the year. Battered by recession, Greece is dependent more than most European countries on oil and gas imports. It spends between EUR10 billion and EUR12 billion a year on oil imports, about 5% of its gross domestic product. It produces a few thousand barrels of oil a day in the northern Aegean Sea and consumes about 120 million barrels of oil and 4 billion cubic meters of natural gas annually. Previously attempts at oil research have been partially suspended over disputes with Turkey over territorial rights to the Aegean waters. Greece aims to start the first test drilling for oil in undisputed waters of the west coast. Recently, Noble Energy Inc. (NBL) announced five natural-gas discoveries near Cyprus, building on a string of successes in the eastern Mediterranean. The gas finds are estimated at 33 trillion cubic feet. -By Nektaria Stamouli, Dow Jones Newswires; +30 210 373 1775; nektaria.stamouli@dowjones.com

Stock News for Noble (NBL)
DateTimeHeadline
07/13/201405:53:15Estimated Reserves in Israel's Leviathan Gas Field Raised
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06/04/201405:30:15Rockhopper Exploration: Premier Contracts Drilling Unit
06/04/201405:12:49Falkland Oil and Gas Signs Rig Contract For 6-Well Drill Program
05/21/201403:03:44Woodside Terminates Leviathan Deal--Update
05/06/201417:41:12Israeli Offshore Natural Gas Is Headed to Egypt
04/15/201409:30:42Noble Energy CEO Davidson to Retire in 2015
03/12/201411:41:42Israel's Tamar Field Signs Second Domestic Gas Supply Deal This...
02/21/201401:59:43Noble Plans China Oil-Field Stake Sale -- Update
02/06/201421:10:04Woodside Says Terms of Leviathan Agreement Changed
02/06/201418:31:30Noble Energy Signs Pact to Sell Offshore Licenses to Woodside
02/06/201412:25:48U.S. Hot Stocks: Hot Stocks to Watch
12/18/201310:19:34Israeli Firms Distance Themselves From Noble Energy's Oil Field...
12/17/201309:44:12Noble Energy Sees $4.8 Billion in Capital Spending Next Year
12/10/201308:39:05Dominion to Lease Marcellus Rights to Consolidated in West Virginia
12/04/201309:42:13Noble Energy Unveils Two Exploration Discoveries
12/02/201308:08:13Israel's Givot Olam Halts Drilling at Meged field
11/28/201308:09:38Increased Natural Gas Production Fails to Boost Delek Group's...
11/26/201304:14:09Israel's Tamar Gas Partners Say Signs of Petroleum in Nearby...
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of -2-

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