NW Peloponnesus

NW PeloponnesusNW Peloponnese Block is one of the three onshore blocks offered in the 2015 onshore tender in Western Greece. The “Selected Applicant” for the NW Peloponnese Block is Hellenic Petroleum (February 2016). The negotiations have been completed and the Lease Agreement is expected to be signed in 1Q’ 2017.
Founded in 1998, Hellenic Petroleum is one of the leading energy groups in South East Europe, with activities spanning across the energy value chain and presence in 6 countries. Its shares are primarily listed on the Athens Exchange with a secondary listing on the London Stock exchange.
The NW Peloponnese block is located in western Greece and covers an area of 3,778.3 km2. The Block contains protected coastal lagoons (Kotychi and Kalogria) and low elevation marshy areas mainly to the W – NW of the area. Main rivers included are the Peiros to the north, Pineus in the central area and the Alfeus to the south. The mountain of Skolis (960m) forms an abrupt and prominent feature to the north west of the contract area. The NW Peloponnese is part of the western Hellenides thrust fault belt, which runs parallel to the coast of western Greece. Skolis mountain represents the tectonic boundary between the Ionian and Gavrovo zones and is a perfect example of compressional tectonics in a thrust fault belt. It gives the opportunity to study the structure and relationship between the Gavrovo and Ionian zones.
From a structural and geological point of view, this area is characterized by the presence of Pindos, Gavrovo and Ionian tectono-stratigraphic units. The two main relevant geotectonic zones, in terms of hydrocarbon potential in this block are, moving westward, Gavrovo and Ionian Zones, related to a N-S trending fold and thrust belt system that, especially for the Ionian area, produce oil and gas fields both in Albania and Peloponnese offshore.
The aim of activities planned, during the exploration phase, is targeting to obtain the clearest evaluation of the subsurface hydrocarbon potential in the block. Western Greece is characterized by a long geodynamic history in which different tectonic events have generated very complex structures.

Useful links

STRATEGIC ENVIRONMENTAL ASSESSMENT (SEA) for area «NW Peloponnisos» (text in Greek language)
Notice to the Official Journal of the European Union (2014/C 400/03)and  Corrigendum (2015/C 126/09)
Notice of Extension to the Official Journal of the European Union (2015/C 174/05)