HELLENiQ UPSTREAM Sea of Thrace, a 100% subsidiary of HELLENiQ UPSTREAM HOLDINGS SINGLE MEMBER SOCIETE ANONYME, has 25% interest in the exploration rights of the Thrace Sea concession in Northern Aegean Sea. Calfrac Well Services is the Operator of the concession, holding a 75% interest. The concession is covering a total area of approximately 1,600 km².

The main objective of HELLENiQ UPSTREAM Sea of Thrace, as a member of HELLENiQ ENERGY Group, is the exploration of hydrocarbons in the concession area and their future exploitation in favor of the country and local communities with the outmost to the environment and the local commercial or social activities. Both exploration and exploitation activities of hydrocarbons are governed by a strict institutional framework to minimize the environmental footprint of operations.