The developments in the field of hydrocarbon research are “well underway” by the companies that have been granted the “plots” in western Greece and the maritime areas of Crete.
The completion of seismic surveys in the Ionian Sea and “Block 10” (Gulf of Kyparissia in the Western Peloponnese) areas last week, marks the end of this phase, as 2D or 3D data have been extracted from all areas granted for hydrocarbon surveys.
The only pending issue is the possibility of carrying out 3D surveys in the maritime areas of Crete (the 2D surveys were completed in January), which will be decided by Helleniq Energy in collaboration with ExxonMobil, the manager of the research consortium.
The next milestone in hydrocarbon research in Greece is the approval of the environmental study for the execution of the (first after decades) exploratory drilling in the Ioannina region by Energean. The study has been submitted to the Directorate of Environmental Licensing of the Environment and Energy Ministry and if it is approved without major modifications, it could lead to the start of drilling (an investment of 40 million euros) in 2024, as long as there are no appeals in court that would cause a delay in the process. Sources of the company told the Athens-Macedonian News Agency that an extension of the research period should also be ensured in order to cover the case where a second confirmatory drilling will be needed, which also requires environmental licensing.
In “Block 2”, west of Corfu, where Energean’s Joint Venture with Helleniq Energy operates, the 3D seismic survey was completed in November 2022 and in a few weeks (September – October) the interpretation of the data will be completed in order to decide whether an exploratory drilling will be conducted.