High reserves of oil in the Ionian and Aegean Seas
19/01/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
The Greek government expressed its optimism for finding big reserves of oil and gas in the Ionian Sea and in Southern Crete.
The news was announced by the Greek Deputy Minister of Energy, Janis Manjatis, who declared that the US, Israeli and British researching companies had great interest for looking for oil in the Ionian and Aegean Seas. According to Manjatis, the Greek government is very optimist that in Western Greece, near Iannina, in Southern Corfu and even in the west of Patra, Souther Crete, there are great quantities of fuels, mounting to billions of USD for the next two decades.
The Greek enthusiasm went even further after the London stock market announced a few days ago that the researching companies have found 1 billion barrels of oil in the Albanian sea area, in Northern Corfu, which are identical to those of Durres and Marinez-Patos.
Being so near the areas of our country, Greece has increased the trust that they can find more than 4 billion barrels of oil, half of which could be usable with the price of 85 USD per barrel. Experts declared that the oil price is not expected to decrease any soon, while these reserves could be extracted in a five year period. The first probes are expected to start digging to go into sea in the next year.
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