Economy · Greece
AI summary: catch up in 20 seconds
Summarising the coverage…
Generated by AI from the 6 sources below · always verify with the originals
The full picture
AI-synthesised from 6 sources · no editorial bias
Synthesis generating…
AI summary: catch up in 20 seconds
Generated by AI from the 6 sources below · always verify with the originals
The full picture
AI-synthesised from 6 sources · no editorial bias
The drilling of the first exploratory well for hydrocarbons in Greece's Ionian Sea, specifically in Block 2, is progressing towards its planned phase. The joint venture of Energean, ExxonMobil, and Helleniq Energy is preparing for drilling operations, which are scheduled to commence in February 2027. This initiative marks the first gas exploration project in Greece in approximately 40 years, with the consortium aiming to tap into an estimated 270 billion cubic meters of natural gas.
To this end, the consortium is completing the necessary permits and organizational steps, with sources indicating that an environmental impact study is set to be submitted this month. The town of Igoumenitsa has been chosen as the operational base for the drilling activities. According to ExxonMobil's European Vice President for Exploration, the upcoming gas explorations are intricately linked to enhancing Europe's energy security.
Overall, the project represents a significant investment opportunity, potentially reaching 5 billion euros, reflecting a renewed focus on hydrocarbon exploration within the region.
11 July
Block 2 in the Ionian Sea progresses closer to the drilling phase.
Skip to content
Comments · 0 (subscribers)
Sign in to join the discussion.
No comments yet. Be the first to join the discussion.