ECONOMY ENERGY Reserve off Crete is promising

20230126 125351

Τhe seismic data ExxonMobil’s Sanco Swift research vessel has collected so far offer clear indications of the existence of an important hydrocarbon field in the area south of Crete.

In fact, according to what Environment and Energy Minister Kostas Skrekas conveyed to journalists on the sidelines of Tuesday’s Hellenic Hydrocarbons and Energy Resources Management Company (EDEFYEP) event for the presentation of its new corporate identity, “the indications create high expectations of a deposit that can cover the gap left by Russian gas on the European market for 10 years,” – i.e. 30 billion cubic meters annually, based on the European Union estimates.

The minister’s statements were made after the meeting he reportedly had on Tuesday with six executives of the American company who came to Athens to inform the political leadership of the ministry about the progress of the seismic surveys to date, which according to the minister will be completed by end-February.

At the meeting, according to the same information, the possibility of speeding up the decision for exploratory drilling in the Crete area within 2023 was discussed, with the aim of setting up the first drilling rig in 2024 – i.e. two years earlier than originally planned.

Copyright Greekcitytimes 2024