The first reliable findings from seismic research in the Ionian Sea and an area west-southwest off the coast of Crete will be available by the end of 2023 and this data will determine whether exploratory drilling will be carried out, hydrocarbon industry sources said on Monday.
Speaking to reporters on the sidelines of an event organized by the Hellenic Hydrocarbons and Energy Resources Management Company SA (HEREMA) to present a “white book” on CO2 storage, the same sources said that Energean was expected to begin its first exploratory drilling in Ioannina.
Prime Minister Kyriakos Mitsotakis, speaking from Crete, said that the New Democracy government put on track for the first time fundamental seismic surveys in southwest Crete and the data from the surveys was now being examined by the company to find out with certainty if there are hydrocarbons or natural gas in the region. He added that if the answer is affirmative, the first drilling should take place by 2026.
The Hellenic Hydrocarbons and Energy Resources Management Company is monitoring the process of interpreting the data from the seismic surveys and the timetables set for hydrocarbon exploration. In Ioannina, the first drilling in Giourganista is officially scheduled for this year, but since the environmental license is still pending, a more realistic target is for it to begin drilling in 2024. Energean owns all the research and exploration rights in the region. [AMNA]