Hellenic plans Egypt exploration

摘要

Hellenic Petroleum has extending its foreign assets by signing an oil exploration deal in Egypt.The Greek refiner said the seven-year deal to drill for oil in an area covering 1,841sq km in west Obayed will cost around US 26m.Hellenic controls more than 70% of Greece's wholesale oil market and has been looking for new areas of growth, including exploration. The refiner has won contracts to explore for oil in both Libya and Egypt, Reuters reported.