HELLENiQ Upstream

Cooperation with established partners in offshore blocks in Greece

HELLENiQ ENERGY's wholly owned subsidiary, HELLENiQ UPSTREAM  Single Member S.A. (HELLENiQ UPSTREAM A.E.) was established in 2015. The company’s vision is to develop activities and execute projects that involve every phase of the industry of hydrocarbon exploration and exploitation (upstream), as well as, to provide consulting services in related matters. HELLENiQ UPSTREAM S.A. personnel consists of highly skilled, qualified scientists, with international experience in the oil and gas industry.

At HELLENiQ ENERGY, through our 100% subsidiary HELLENiQ UPSTREAM, we have developed a promising portfolio of selected  areas in Greece, aiming to explore their hydrocarbon potential.

All activities carried out during exploration, development and production of hydrocarbons follow a strict regulatory framework in order to minimize the environmental footprint of the related activities.

Historical Review

  • Founded in 1975, the Public Petroleum Corporation (DEP S.A.) held the rights for Exploration & Production (R&P) of hydrocarbons granted by the Greek State. For the next two decades, the company systematically explored 26 hydrocarbon potential areas across the country.
  • In 1986, DEP S.A. established its subsidiary, the Public Enterprise for Petroleum Exploration and Production of Hydrocarbons (DEP-EKY S.A.). A decade later, in 1996, DEP-EKY S.A. released an international tender, resulting in the signing of Lease Agreements for hydrocarbon exploration in four areas of Western Greece: Ioannina, N.W. Peloponnese, Patraikos, and Aitoloakarnania.
  • In 1998, DEP S.A. was merged with other state-owned companies in oil sector, founding HELLENIC PETROLEUM S.A. which was listed in the Athens Stock Exchange.
  • In 2007, the Greek State, by a unilateral legislative act, revoked HELLENIC PETROLEUM's E&P rights in the 26 lease areas.
  • Since 2009, HELLENIC PETROLEUM S.A. has been actively participated in international tenders released by the Ministry of  Energy & Environment, in joint ventures with international oil & gas companies, granting  exploration rights in several areas, including Patraikos Gulf (West), Arta-Preveza, N.W. Peloponnese, Block 2, in West Corfu island, Block 10, in Kyparissiakos Gulf, Ionian Block, as well as West Crete and Southwest Crete.

6 Offshore Areas

with exclusive E&P rights

s line
Kyparissiakos kolpos

Offshore "Block 10", in Ionian Sea, Kyparissiakos Gulf, (HELLENiQ UPSTREAM KYPARISSIAKOS GULF S.A., 100% ownership, Operator)



Offshore "Ionian" Block, in Western Greece, (HELLENiQ UPSTREAM IONIAN S.A. 100%, Operator)




Offshore Area "Sea of Thrace", in Northern Aegean Sea, (HELLENiQ UPSTREAM SEA OF THRACE S.A. (25%, in joint venture with Calfrac Well Services Ltd., 75%)


west kerkyra

Offshore "Block 2", in Western Corfu island, (HELLENiQ UPSTREAM WEST KERKYRA S.A. (25%, in joint venture with Energean Hellas Ltd, 75% Operator)


west crete

Offshore Area "West Crete" (HELLENiQ UPSTREAM WEST CRETE S.A., 30%, in  joint venture with ExxonMobil, 70%  Operator)


southwest crete

Offshore Area "South-West Crete", (HELLENiQ UPSTREAM SOUTH-WEST CRETE S.A., 30%, in joint venture with ExxonMobil, 70% Operator)



Contact HELLENiQ Upstream


4A Gravias, 15125, Maroussi

Telephone / Email

210 6302000