ExxonMobil-led consortium to continue seismic research for gas off Crete, says Greece

HELLENiQ ENERGY Holdings

10/10/2024 09:16

ATHENS, Oct 10 (Reuters) - An ExxonMobil-led consortium
will move to the second phase of seismic research for gas
exploration in a block off the Greek island of Crete, Greece
said on Thursday.
    Hellenic Hydrocarbons and Energy Resources Management
Company (HEREMA) said that the consortium of ExxonMobil and
Hellenic Energy have acquired a total of 7,789 kilometres of
two-dimensional seismic data in the "southwestern" block off
Crete compared to a required minimum of 3,250 kilometres of 2D
data needed for the project to proceed. 
    The consortium will now move to the second stage for
collecting three-dimensional seismic data in the area. That
process will take three years and will determine the final
decision for exploration drilling, HEREMA added.
    Greece, which views gas as a transition fuel as it ramps up
renewables, has produced small quantities of oil in the past and
has renewed its efforts to explore its hydrocarbon potential
following a 2022 energy crisis in Europe.

 (Reporting by Angeliki Koutantou; Editing by Sharon Singleton)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))