The Institute of Energy for South East Europe (IENE) welcomes the successful completion of the first phase of the «open-door» licensing round for hydrocarbon research in Western Greece. On July 2nd participating companies in the "open door” licensing round submitted their bids to the Ministry of Environment, Energy and Climate Change , which, among others is in charge of the country’s hydrocarbon sector. As it has been more than 15 years since Greece has undertaken any hydrocarbon research, the announcement by the Ministry that the first phase was completed on time and that several companies actually submitted bids for all three concession areas, can only be regarded as a step forward and an essential move in the restart of an effort towards the exploitation of the country’s hydrocarbon potential (See IENE’s SE Energy Market Watch No. 63 for detailed information on the licens ing round and the submitted bids ).

In the wake of this positive development, IENE wishes to remind of its own persistent efforts over the years in cultivating public awareness on hydrocarbon research , at a time when there was no other, official or unofficial, advocate for hydrocarbon exploration activities in Greece. Such an approach was to be expected by the Institute, as, since its foundation in 2003, some of the most prominent professionals of the hydrocarbon sector in Greece became partners, or members or scientific associates. Moreover, the exploration and production of hydrocarbons in SE Europe , including Greece, are among the stated objectives and goals of the Institute since its foundation.

IENE, through various seminars, conferences, publications, working papers and related activities it has undertaken related to hydrocarbon research, has sought to refine its positions and formulate its views with clarity, and has made them known both in public and to the competent authorities. In short, IENE has tried over the years to alert and convince successive Greek goverments on the need for the state to encourage and organize, with the participation of suitably qualified companies, research and development work in the hydrocarbon sector.

More specifically, in July 2005 IENE organized one-day seminar on hydrocarbon research and development in Greece, with the participation of some of the most knowledgeable experts of the sector from home and abroad. On December 200 6 , IENE’s Report on "The Reorganization of the Hydrocarbons Research & Development Sector in Greece” ( Internal Report No. 004/06) was published. Also, the «Oil and the Economy» conference which was organized by the Institute in July 2010 in Athens , brought to public attention the subject of hydrocarbon exploration in Greece. Furthermore, IENE continued its involvement with hydrocarbon issues through frequent coverage in its periodical publications and regular newsletters but also by making it a key topic in its various seminars and annual conferences .

In addition, IENE took active part in the public consultation for the formation of a state-run hydrocarbon development agency in Greece. What is more, by organizing a two-day international workshop on «Hydrocarbon Exploration and Production in the East Mediterranean and the Adriatic Sea» (26-27 April, 2012) at the time when the aforementioned licensing round was in progress, IENE greatly contributed in attracting a broader interest by international oil companies eager to participate in the development of Greece’s hydrocarbon recourses.

It should finally be noted that IENE firmly believes and is fully committed towards the need for further research and development of the hydrocarbon sector in all countries of SE Europe. IENE is convinced of the necessity for much greater oil and gas production by all countries in the region in order to lessen their dependence from hydrocarbon imports.

Furthermore, the development of an indigenous hydrocarbon resource base will help the countries of SE Europe improve their security of energy supply while, at the same time, earn them much needed income which will help them achieve their goals for economic and social development. IENE is determined to continue in its efforts to cultivate public awareness and promote public dialogue on the need to develop fully and exploit the region’s hydrocarbon potential.

Towards that end, IENE’s latest two-day International Workshop on «Hydrocarbon Exploration and Production in the East Mediterranean and the Adriatic Sea», which took place in Athens last April, turned out to be an important gathering for hydrocarbon experts, professionals, academics and decision makers of the region. More than 60 participants  from seven different countries had the opportunity to exchange information and ideas on latest developments and future prospects of the hydrocarbon sector of the respective countries but also discuss the possibility of collaborative efforts and joint projects.