ExxonMobil scours Crete deposits

ExxonMobil has been surveying for seven days for the promising natural gas deposits off Crete.

The American energy giant has reportedly commissioned Norwegian geophysical survey company PGS to conduct seismic surveys. The Sanco Swift vessel is already in the sea blocks “West of Crete” and “Southwest of Crete” carrying out 3D data downloads from the subsoil of the concessions.

According to data from the marine traffic website, on October 20, the specially equipped ship departed from Limassol in the direction of Chania and on the 24th of the month it was recorded moving within the limits of the “West of Crete” concession. The last two days it seems to be scanning the maritime area “Southwest of Crete.

The ExxonMobil – Helleniq Energy (formerly Hellenic Petroleum) joint venture moved quickly after the departure of their partner TotalEnergies. During the summer, the new scheme was introduced with the American giant owning 70% and the Greek energy group 30%.

Essentially, ExxonMobil‘s move to take the French stake was interpreted as a sign of strong investor confidence in Athens’ efforts to explore Greek concessions to locate possible natural gas fields.

At the end of the summer, the US firm as the operator of the two blocks, notified the competent authority for hydrocarbon research, EDEFYEP, of its new revised operational program in the context of the commitments it has undertaken towards the Greek state.

The program, as evidenced by the execution of the seismic surveys, is accelerating, while the data that will be collected is expected to have been interpreted within 2023.

The special seismograph of PGS is equipped to carry out three-dimensional seismic surveys. This work is done when the investor wants to focus on specific targets of hydrocarbon deposits.

The remaining Blocks

As OT revealed yesterday, Energean is also starting seismic surveys in block 2, in the Ionian Sea with the PGS Ramform Hyperion seismograph.

An attempt is being made to acquire 3D seismic data over an area of 2,000 square kilometers.

Last Spring, Helleniq Energy had also conducted two-dimensional surveys in the “Ionio” and “NW Peloponnese” marine concessions, awaiting the results of the data processing until the end of the year.

Finally, it is worth noting that the first test drilling in Greek territory after decades is expected in Energean’s “Ioannina” onshore area. The time of its realization is estimated towards the summer of 2023.