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Thursday, August 18, 2022
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GreeceBusinessAcceleration of hydrocarbon exploration - Target for first drilling in 2025

Acceleration of hydrocarbon exploration – Target for first drilling in 2025

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Hellenic News of Americahttps://www.hellenicnews.com
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The government will announce initiatives to accelerate gas exploration in the Ionian Sea and in Crete. The aim is to make use of the “window of opportunity” for the exploitation of Greek deposits created by the current situation and to change the climate following the delays of the previous years.

The aim of the initiatives will be:
– To conclude seismic surveys, which give the first indications for the possible existence of deposits, in 1-2 years, ie in 2023-2024.
– To complete research drillings, which confirm the size and the economic figures of the exploitation of the deposits in 3-4 years (2025-2026) and
– To start gas production in 6-7 years (2028-2029).

As officials stated to the Athens-Macedonian News Agency  (ANA), the goals are realistic compared to the schedule of other countries in the region, such as Egypt and Israel. They also cited the example of Hellenic Petroleum, which carried out seismic surveys in areas of the Ionian Sea in February within a few weeks.

But cooperation from all parties involved will be needed to overcome the current obstacles, and time is running out not only because of the crisis but also because of the EU’s anti-pollution policy, which still aims to become independent from hydrocarbons.

SOURCE; AMNA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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