“Seismic surveys of natural gas fields will begin immediately. When I say immediately, I mean in the coming days at two sites located southwest of the Peloponnese and Crete, from ExxonMobil. Our country, despite its commitment to a fast green transition, must find out whether it currently has the ability to extract natural gas, which will contribute not only to our own energy security, but also to the energy security of Europe,” he said today. Kyriakos Mitsotakis on the air of ANT1 TV channel.

With regard to natural gas exploration, APE-MPE notes that in February 2022, the relevant state-owned company EDEY SA launched an ambitious program to attract large international investors to stimulate the hydrocarbon exploration and production program.

In early March, ELPE’s largest seismic survey in the last decade was successfully completed in the central and southern parts of the Ionian Sea.

This was followed in early April by public support for the Prime Minister of Greece by singling out relevant projects as projects of national importance, instructing them to speed up work, and a clear timetable was announced.

Following the Prime Minister’s visit to the United States in May 2022, EDEY traveled to the United States to present its new strategy called “Hydrocarbons 2.0” and, in the context of the company’s new strategy, compatibility with the energy transition and Greece’s role in strengthening regional and European energy security.

The positive acceptance of the Greek strategy was confirmed by a vote of investor confidence in the concessions in Crete, when ExxonMobil nearly doubled its stake at the end of July and simultaneously assumed control of the concessions.

Three months later, in early November, with the launch of a seismic survey program in the west and southwest of Crete, as well as in the southwest of the Peloponnese, on the border of the Greek EEZ with Italy, Greece will for the first time conduct parallel surveys in the northwest and southwest of our borders.

The same sources emphasize that the response and speed with which ExxonMobil responded gives us confidence in the end result and seems to confirm the strategic importance of the research area.

The collection of seismic data in the West and South West Crete (2D) blocks will be followed by data processing over the next 6 months to visualize subsurface geological structures. Following the interpretation of the processed seismic data, in combination with existing geological models and other available scientific data, there will be: (a) selection and prioritization of targets for exploration drilling, (b) drafting an environmental impact assessment of exploration drilling, and (c) launching a tender for research drilling.

The goal is to make a decision on drilling in 2024 and conduct the first exploration well in 2025.

Source: RES-IPE