ExxonMobil to buy 60% stake in Block 2 concession offshore Greece

US-based oil major ExxonMobil has signed a farm-in agreement with Energean and Helleniq Energy to acquire a 60% interest in Greece’s Block 2 concession. Under the terms of the agreement, Energean will retain a 30% stake, down from 75%, while Helleniq Energy will hold 10%, down from 25%. Energean will remain as the operator during the exploration phase. ExxonMobil will act as the operator in the development stage if the consortium discovers hydrocarbons. The Block 2 concession, located adjacent to the It ...