Research for hydrocarbons in Crete and Peloponnese has begun
- Written by E.Tsiliopoulos
Seismic surveys south of the Peloponnese and west of Crete began today by ExxonMobil to explore natural gas deposits, according to the Minister of Environment and Energy, Kostas Skrekas.
Speaking to national broadcaster ERT, he revealed that the research for hydrocarbons in Greece has begun. The ship is on its way. It casts and drags cables that emit signals and listens for the return of the waves so that it can determine the geological makeup.
The relevant NAVTEX, issued last Monday, provides that areas in the Ionian Sea, the Western Sea and west and east of Crete are reserved so that the ship Nanco Swift can carry out equipment deployment and seismic surveys.
"This may be the last large deposit we are investigating in SE Europe"
"The deposit that we suspect exists southwest of Crete and the Peloponnese is perhaps the last hope that the mining industry has to find a large natural gas deposit in the region of Eastern Europe," the minister revealed to ERT, clarifying however that "until we drill down and see what's really there, everything is just estimates."
Seismic surveys will last 2 years. Based on their results, the consortium will decide whether to proceed with exploratory drilling or withdraw. If the investigations are deemed satisfactory, natural gas production may begin in 2027.
The schedule of surveys:
2022- 2024: Seismic surveys
2024-2026: Exploratory drilling
2026-2027: Field development
2027-2028: Natural Gas Production
Related items
- Crete's authorities, population taking part in largest Greek earthquake exercise; to serve as model
- First of 140 electric buses arrive in Athens
- Decisions Over Exploratory Hydrocarbon Drilling SW of Crete, Ionian Expected Shortly
- Gerapetritis meets Egyptian counterpart
- PM Mitsotakis to Meet US Sec of State Blinken on Crete on Saturday
Latest from E.Tsiliopoulos
- Three master Belem set sail from Piraeus, transporting the Olympic Flame to Marseille
- Six out of 21 defendants found guilty in deadly Mati fire - Extremely light sentences for 104 killed in blaze
- One dead, one injured in shooting incident in Maroussi
- Giannis Antetokounmpo and Mariah to tie the knot in Greece wedding
- Police arrest Greek national sought by Italy for financial crimes