Amendment of article 2 of the Law No. 2289 on the prospection, exploration, exploitation and production of hydrocarbons

Annex Law No_ 228911995 "on prospecting. exploration and exploitation of hydrocarbons and other provisions", as amended by Law No. 400112011' Article 2, par. 1 reads as follows: "1 . The right to prospect. explore and exploit hydrocarbons found on land, in lakes and submarine areas over which the Hellenic Republic exercises sovereignty or sovereign rights in accordance with the provisions of the 1982 UN Convention on the Law of the Sea, approved by Law No. 232111995, appertains exclusively to the State and shall be exercised only for the public interest [ ... ] "Submarine ar'eas" means the seabed and the subsoil of the internal waters, the territorial sea, the cominental shelf and the exclusive economic zone (once declared), to a distance of 200 nautical miles from the baselines from which the breadth of the territorial sea is measured. In the absence of a delimitation agreement with neighbouring states. whose coasts are opposite or adjacent to the coasts of the Hellenic Republic, the outer limit of the continental shelf and of the exclusive economic zone (once declared) is the median line, every point of which is equidistant from the nearest points on the baselines (both continental and insular) from which the breadth of the territorial sea is measured." • Law No. 400112011 on the operation of electricity and natural gas energy markets, the exploration, production and transport networks of hydrocarbons and other provisions" (Offioial Gazette A' 179/22.8.2011)