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GreeceSeismic research for hydrocarbons off Crete concludes, data analysis to follow

Seismic research for hydrocarbons off Crete concludes, data analysis to follow

Hellenic News of America
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Seismic research for hydrocarbons at sea west and northwest of Crete are concluded, the Hellenic Hydrocarbons and Energy Resources Management Company SA (HEREMA) announced on Monday.

The data will be analysed and determine what the next step will be.

Research began in November 2022 and was carried out by PGS for concessionaires ExxonMobil and Helleniq Energy in an area covering 40,000 square kilometers. State-owned Herema said a total of 12,278 sqkm of data was collected, almost double the conventional requirement of 6,500 sqkm.

Commenting on the conclusion of field research, Environment and Energy Minister Kostas Skrekas said, “Prime Minister Kyriakos Mitsotakis announced the speeding up of research to identify hydrocarbons in April. Seismic research in the region of Crete was concluded today, faster than expected. In two years, we proceeded to research seismically 5 regions, compared to 2 regions between 2011 and 2020. I want to thank all involved parties and announce that we are awaiting the research results with great interest. Our purpose is to do the first exploratory drilling within 2025.”

As Herema CEO Aristophanes Stefatos noted, “As a relevant state company that handles the concession agreements on behalf of the Greek state, we are very happy over the excellent collaboration with investors, who increased their investments and completed the research program speedily.”

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“The successful conclusion of research signals the completion of all seismic programs and is a Greek achievement at a global level that comes at a key moment for Europe,” Herema President Ricard Skoufias said. “We are before an unprecedented opportunity to develop Greece’s natural gas resources in a way that both brings economic and strategic benefits and supports the acceleration of transitioning to a more viable future, which is the ultimate goal.”

SOURCE; ANA-MPA

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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