State to keep 36.25 % of ELPE’s hydrocarbon rights – Greece, 10 April 2018

The state is expected to maintain a 36.25 % share of hydrocarbon interests of Hellenic Petroleum (ELPE), which is close to its current overall stake held in the company, after the privatization of 50.1 % stake which will be offered to strategic investors.
The Greek state currently holds a 35.5 % stake in ELPE, while Paneuropean Oil, a member of the Latsis Group, owns 45.47 % stake. A new holding company is expected to be formed to host ELPE’s various hydrocarbon ventures, including the one representing the state’s 36.25 % share, as well as companies currently holding exploration and production licenses for various blocks in Greek territory. These blocks include Arta-Preveza, northwest Peloponnese, the Gulf of Patras, as well as the Ionian Sea’s Block 2, west of Corfu island.

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