President Karolos Papoulias on Monday was briefed by Deputy Environment, Energy and Climate Change Minister Ioannis Maniatis on developments in the hydrocarbon exploitation sector.
Maniatis said a draft law on the establishment of a hydrocarbon research authority will be presented in the Cabinet meeting later in the week, adding that seismic research will be conducted after an international tender.
He stressed that “the best companies in the sector will be invited and, for the first time, Greece will know the exact size of its hydrocarbon deposits mainly in the Ionian Sea region and south of Crete.” 
Papoulias commented that the issue is sensitive and, in view of his formal visit to Israel next week, congratulated Maniatis on the bilateral cooperation.