Ocean Rig and Energean Oil & Gas will create a joint venture called OceanEnergean to participate in new bid rounds for hydrocarbon exploration and exploitation in Greece and abroad in more than 1000m deep water. Each company will hold 50% of the share capital.
Energean said the company’s aim is to create an operator that will bid for new blocks in the Mediterranean, the Black Sea and Africa, as well as in Western Greece and Crete.
OceanEnergean will draw on Energean’s expertise in exploration, development and operation of oil and gas fields, and Ocean Rig’s international experience in deepwater drilling.