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Greece Issues NAVTEX for Seismic Surveys off Crete and Peloponnese.

Athens, Tuesday, 08 November 2022

To help Europe transition away from Russian natural gas, Greece on Tuesday issued navigational telexes reserving two locations that will be investigated for hydrocarbon reserves. The country wants to lessen its reliance on imported fuel.

Off the western-southwest coast of Crete in the southern Aegean and off the southwest coast of the Peloponnese in the Ionian Sea are the concerned areas.

The research vessel Sanco Swift began conducting the seismic surveys on Tuesday. They will cover a total area of 40,000 square kilometres.

ExxonMobil is the operator and has 70% of the rights to search for hydrocarbons off the coast of Crete. HelleniQ Energy, the largest oil refiner in Greece, has the remaining 30% of the rights.

“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.

(Source: Kathimerini // Report by: The Decision Maker – Finance editors)

(Photo by: Wikipedia)


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