Indications that a huge natural gas field with a volume 10 trillion cubic feet or 280 billion cubic meters, have been discovered in the sea area south of the island of Crete. It is reportedly the largest natural gas reserve in the wider region.
According to daily ta nea, the gas filed has been documented by seismic surveys carried out in 2012-2013 by the Norwegian company PGS in 2012-2013. The Norwegian company was invited by then Environment and Energy Minister Yiannis Maniatis as part of his initiatives launched with the aim to grand concessions for the exploration and exploitation of hydrocarbons in Greece.
With the seismic vessel “Nordic Explorer” the PGS had scanned in the Ionian Sea and the south of Crete, collecting geological data from a total area of 225,000 sq km.
The seismic results came up for sale to prospective investors, and about six years ago major oil companies rushed to acquire them to process, study and make final decisions.
In 2015, the Norwegian scientists who identified the promising stock gave it the name “Talos.”
With its 10-trillion-cubic-feet stock, Talos is reportedly allegedly located in the two maritime concessions “West of Crete” and “South-West of Crete”. These have been leased to the consortium of companies Total – ExxonMobil – ELPE.
Map: hydrocarbon concession
Based on the concessions voted in October at the Greek Palriament, seismic investigations will last up to eight years.
After eight years, the oil companies will receive the new seismic data and proceed with the first drilling to verify the above mentioned estimations. source: tanea
