Greece and Chevron-Helleniq Energy to sign agreements on Monday for hydrocarbon exploration in 4 offshore blocks

The lease agreements between the Greek state and the Chevron-Helleniq Energy consortium, which concern the granting of exclusive rights to explore and exploit hydrocarbons in marine areas south of the Peloponnese and Crete, will be signed on Monday at 11:00 in the presence of Prime Minister Kyriakos Mitsotakis at the Maximos Mansion.

The signing of these contracts is an important milestone for the country’s new energy reality.

Next steps

The next steps on the roadmap are:

The start of seismic surveys in the 4 areas towards the end of the year.

The execution of exploratory drilling in “plot 2” in the Ionian Sea by the ExxonMobil-Energean-Helleniq Energy Consortium. It is the first drilling in the country after 40 years and the first in general at great depths.

ΔΙΑΒΑΣΤΕ ΕΠΙΣΗΣ

Είστε fan του Μέσι ή του Ρονάλντο; Η προτίμησή σας αποκαλύπτει και τις πολιτικές σας πεποιθήσεις

The development reinforces the expectations that have been created for the “vertical corridor”, i.e. the prospect of its substantial activation after the consultations that will take place on February 24 in Washington with the participation of representatives of the countries of the region and the European Commission.

The aim of the meeting is to remove the obstacles that have so far prevented the transport of significant quantities of natural gas through Greece to the North, ending in Ukraine. To the extent that the cost of transport through the Greek system is reduced, the corridor will be further developed, however, the implementation of the ban on the import of Russian natural gas into the EU until the end of 2027 will give a decisive boost to the project as it will create a significant supply gap in the region. In these issues, namely the vertical corridor and hydrocarbon exploration, we will have significant developments in the coming period – milestones for the energy reality of the country and the wider region.

The vertical natural gas corridor, which ensures the channeling of deposits – if discovered – to the international market, is emerging as a comparative advantage for attracting investments in the field of hydrocarbon exploration and production in Greece.