First exploratory drills for Greek hydrocarbons to start in 2018-2019 - CAPITAL

Monday, 10 July 2017 - 09:29

The first exploratory drills for hydrocarbons in Greece that will provide a clearer picture on the existence and size of the deposits are expected to start in 2018-2019 from the western Gulf of Patras and the offshore field in Katakolon, according to sources of the Athens-Macedonian News Agency.

The sources said interest now is focusing on the one hand on the invitation to a tender for the two large sea areas claimed by Energean Oil and Gas in the Ionian and the sea off western Crete, and the next tenders prepared by the Hellenic Hydrocarbons Resources Management (HHRM) for mainland and offshore areas, ΑΜΝΑ reported.

ExxonMobil to dip into Greek hydrocarbons - KATHIMERINI

14.05.2017 : 21:05
Chryssa Liaggou

Senior ExxonMobil officials are expected to arrive in Athens in the next few days to sign an agreement with Hellenic Petroleum and France’s Total regarding the hydrocarbon surveying work in Block 2 beneath the Ionian Sea, in western Greece.

Using Hellenic Petroleum as a vehicle, the US energy giant is strengthening its position in the broader region of the Southeastern Mediterranean – where the competition of the global oil industry has shifted to – six months after its arrival in Cyprus’s Exclusive Economic Zone.

ExxonMobil’s presence in Greece lends credence to indications about the existence of hydrocarbon reserves in the area. It is also expected to accelerate geopolitical developments in the region.

Major oil reserve of 80-100 mln barrels discovered off Patra coast - KATHIMERINI

25.09.2016 : 21:48
Chryssa Liaggou

A significant oil reserve in the Patraikos Gulf near Patra, on a par with that at Prinos off Thasos island, has been confirmed by a study of seismic surveys conducted by Hellenic Petroleum, which is about to be completed in the coming weeks in London.

This reserve concerns extractable oil quantities of 80-100 million barrels, while the ongoing processing of the high-definition surveys is looking to establish whether the seabed off the western port city is indeed holding Greece’s second major oil reserve, as indicated by geological findings.

It is noted that revenues for the Greek state from every 100-million-barrel reserve are estimated at 300 million euros per year (or about 0.2 percent of gross domestic product) over 25 years.