Saturday, June 15 2024

Greece reserves sea areas off Crete and Peloponnese for seismic surveys

Greece reserves sea areas off Crete and Peloponnese for seismic surveys

Greece on Tuesday issued navigational telexes reserving two areas that will be explored for hydrocarbon deposits, as the country seeks to reduce its dependence on imported fuel and contribute to Europe’s efforts to wean itself off Russian natural gas.

The areas in question are located off the western-southwestern coast of Crete in the southern Aegean and off the southwestern coast of the Peloponnese in the Ionian Sea.

The seismic surveys, stretching out over an area covering 40,000 square kilometers in total, are being conducted by the research vessel Sanco Swift, starting on Tuesday. ExxonMobil is the operator, owning 70% of the rights for looking for hydrocarbons off Crete, while Greece’s biggest oil refiner, HelleniQ Energy, holds the remaining 30% share.

“Our country, regardless of its focus on a fast green transition, is obliged to explore if it has the potential to mine natural gas, which will contribute to our country’s energy security and Europe’s,” Prime Minister Kyriakos Mitsotakis said on Monday, announcing the surveys.