Hellenic Petroleum S A : TOTAL, ExxonMobil and HELPE submitted an official application of interest to explore for hydrocarbons in two offshore blocks in Crete.

Today the JV of Total (operator), ExxonMobil and Hellenic Petroleum submitted to the Ministry of Environment and Energy and to EDEY an official application expressing its interest to explore for hydrocarbons in two adjusted offshore blocks in Crete.

The three companies thank the authorities for the meeting, during which they expressed their willingness to explore in these deep water frontier areas, anticipating the Greek State to accept the application and release an international tender, as per the Greek Hydrocarbons Law in force.

The technical expertise and the robust financial position of the partners ensure any works will be performed at the highest professional standards, with the utmost respect to the protection of the environment and to the local communities.

In a statement, the President of HELPE, Mr. E. Tsotsoros noted:

'Today, the three Companies that comprise the Joint Venture, transform into action their will to collaborate, in order to explore potential Hydrocarbon reserves in the Greek territory. The long period of anticipation, confabulation and sensationalism will be substituted by scientific validation. If indeed the existence of exploitable Hydrocarbons is verified, it is certain that our country will enter a new era, with obvious benefits for the national economy and the local communities, and will contribute to the geopolitical and energy upgrade of Greece.'

HELPE CEO, Mr. Gr. Stergioulis made the following statement, in reference to today's developments:

'The three Companies combined, TOTAL-ExxonMobil-HELPE, compose a powerful business venture that possesses specialized and advanced expertise as well as robust financial magnitude, which are required for the successful outcome of the complicated endeavor of deep water exploration. The HELLENIC PETROLEUM Group is fully aware of the responsibility of undertaking such an effort of unprecedented complexity, and commits to proving worthy of the Greek Government's trust, if it is selected. We aspire, as a Group, to contribute substantially to the efforts of our country to revert to steady Growth rates and to becoming an energy hub of significant importance for the wider region of SE Europe and the Mediterranean.