Greece concludes 2D seismic surveys in gas exploration off Crete
20/02/2023 15:32
ATHENS, Feb 20 (Reuters) - Greece has concluded
two-dimensional (2D) seismic surveys for two offshore blocks off
the island of Crete, under its renewed drive to identify
potential gas reserves, the state-owned energy resources company
said on Monday.
Greece, which views gas as a transition fuel as it ramps up
renewables, has produced small quantities of oil in the past and
has attempted to explore its hydrocarbon potential.
A shift to green energy and lack of political will had
stalled its exploration plans. But the war in Ukraine last year
prompted Athens to speed up exploration in six onshore and
offshore blocks, aiming to get a first idea of potential gas
reserves later this year.
Hellenic Hydrocarbons and Energy Resources Management
Company (HEREMA) said processing company PGS has concluded 2D
seismic surveys off Crete on behalf of ExxonMobil XOM.N and
Greece's biggest oil refiner HelleniQ Energy HEPr.AT , which
own 70% and 30% respectively of the exploration rights for gas
in the two blocks off Crete.
"A total of 12,278 km of seismic data were collected against
the minimum contractual obligation of 6,500 km for the two
blocks combined," it said, adding that the operators will now
process and evaluate the data before they decide to enter the
next exploration phase.
Under HEREMA's gas exploration plan, the next stage will be
the collection of more enhanced 3D seismic data which will
determine whether the operators will conduct a test drilling.
Past seismic data had indicated the existence of structures
similar to recent gas discoveries off Egypt and Cyprus.
"Our goal is to have the first exploration drilling within
2025. We need to discover if a new potential source of wealth
exists," Energy Minister Kostas Skrekas said.
(Reporting by Angeliki Koutantou; Editing by Sharon Singleton)
((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))