Andreas Siamisii – Helleniq Energy: Interest in Greek hydrocarbons, positive cap on natural gas


After the surveys are completed, it will take 12-18 months to interpret the data

Interest from foreign oil companies, small and large, to participate in the exploration and exploitation of hydrocarbons in the marine “blocks” of June and Crete has been recorded recently, while the seismic surveys in all the areas that have been granted are progressing at a rapid pace.

They have already been completed in “plots” 2 and Ionian in Western Greece, they are starting in the Kyparissia gulf and are at an advanced stage in Crete.

Helleniq Energy’s managing director Andreas Siamisii said this yesterday at a company event, while in response to a question about the appeal of environmental organizations to the Council of State against the environmental conditions governing the seismic surveys in Crete, he emphasized that if there is a need for adaptation, it will be implemented.

After the completion of the investigations, a period of 12-18 months will be required for the interpretation of the data on which the decision to carry out or not to conduct exploratory drilling will depend.

Regarding the decision to impose a ceiling on the price of natural gas, he spoke of a positive development, while he noted that Greece is in a better position in terms of the possibility of supply from alternative sources compared to many countries in the European north.

Besides, in relation to the taxation of the refineries’ surpluses, Mr. Siamisiis emphasized that it will have an impact on the dividend and the rate of acceleration of investments “but it will not kill us”, as he typically said.

“We have to be realistic, when society is suffering you can’t be indifferent. Helleniq Energy has additionally contributed with the heating oil discount and the free distribution to vulnerable population groups, actions valued at 50-60 million euros,” he emphasized.

The exact amount of taxation will be determined at the end of the year, with the closing of the balance sheet for 2022 and will be paid with income tax in 2023.

It is expected to be around 650 million euros, an amount that is divided approximately equally between the two refining groups. With this amount, as announced by the Prime Minister, Mr. Kyriakos Mitsotakis, the subsidy program will be financed with a rate of 10% of household expenses in supermarkets.


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