Guest Posted July 17, 2015 Report Share Posted July 17, 2015 Just discovered that Greece is sitting on the western edge of an absolutely mammoth sub-Mediterranean oil and gas field, and there are also huge deposits of billions of barrels of oil and trillons of cubic metres of natural gas in the western parts of the country. Not quite bust yet it would seem, isn't oil worth something ?? .... Now i'm beginning to understand the comments on the internet about Greece being the sleeping giant ... They should use the bail out money from the EU and go get it and they have the ships to make money .... Link to comment Share on other sites More sharing options...
cavanami Posted July 17, 2015 Report Share Posted July 17, 2015 Must be 01 April Link to comment Share on other sites More sharing options...
bust Posted July 17, 2015 Report Share Posted July 17, 2015 A brain dead coma does not equal sleeping Link to comment Share on other sites More sharing options...
Guest Posted July 17, 2015 Report Share Posted July 17, 2015 " Must be 01 April " I found this, are you saying all these reports on the internet about huge deposits of Gas and Oil being located around the eastern Mediterranean are an April fool joke and not true ? Energean, Greece’s only hydrocarbon explorer and producer, has begun a $225 million investment plan for 2014-2016 aimed at raising production in the Prinos basin in the north Aegean Sea to 10,000 barrels a day by the end of 2016 from 1,800 barrels today, Rigas said. Energean will use a new drilling rig it bought in August, due to arrive in Greece “in the next couple of weeks,†to drill 15 wells over the next three years starting in January, Rigas said. http://www.bloomberg...il-gas-leader-c As events continue to unfold in the European economic crisis, it is becoming clear a much bigger game is being played when it comes to Greece. The real game there is about who controls the massive oil and gas reserves located just off the Hellenic coast. Carefully kept under wraps for decades has been knowledge of the existence of a huge oil and natural gas field in the eastern Mediterranean, in the area between the islands of Crete, Cyprus and Rhodes. Some people contend that an invasion by the Turks and the partitioning of Cyprus in 1974 were directly related to these oil fields and their future exploitation. It is estimated that they can supply energy to Europe for 50 years and are valued in the neighborhood of $9 to $12 trillion. Russia has shown much interest in a partnership with Greece to drill for these resources, as have Norway and other countries. Link to comment Share on other sites More sharing options...
Dexi Posted July 17, 2015 Report Share Posted July 17, 2015 If these reserves do exist,its strange why Greece has not made any effort to extract the oil and alleviate their financial stress.Maybe its uneconomic to extract,especially at the moment when prices are low and not likely to improve any time soon due to Iranian supplies coming on to the market after the recent successfull outcome of the nuke talks Link to comment Share on other sites More sharing options...
pasathai1 Posted July 17, 2015 Report Share Posted July 17, 2015 If these reserves do exist,its strange why Greece has not made any effort to extract the oil and alleviate their financial stress.Maybe its uneconomic to extract,especially at the moment when prices are low and not likely to improve any time soon due to Iranian supplies coming on to the market after the recent successfull outcome of the nuke talks maybe the greedy world banking community is waiting until they gain control over the resources there Link to comment Share on other sites More sharing options...
Guest Posted July 17, 2015 Report Share Posted July 17, 2015 " maybe the greedy world banking community is waiting until they gain control over the resources there " Isn't this known as lateral thinking, the very same thought went through my mind ... They have aready got control of some assets now, and all comes to those that wait ... Link to comment Share on other sites More sharing options...
baa99 Posted July 17, 2015 Report Share Posted July 17, 2015 ... or oil companies don't trust the Greek government. Look at what has happened to the Canadian mining company developing the gold mines. On the first bailout, those greedy bankers really made out. Banks, insurers and other investors holding about 206 billion euros of Greek government bonds will take a 53.5 percent loss in the face value of their securities, with actual losses estimated at 73 to 74 percent. Link to comment Share on other sites More sharing options...
Guest Posted July 18, 2015 Report Share Posted July 18, 2015 " If these reserves do exist, its strange why Greece has not made any effort to extract the oil and alleviate their financial stress " Disputed waters with Turkey doesn't help, still i'm sure the EU will oneday sort it out for them, so they both loose out in the end ... Link to comment Share on other sites More sharing options...
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