![Hydrocarbons: Research at the “Ionio” and “Kyparissiakos” blocks enter next phase](https://www.ot.gr/wp-content/uploads/2022/12/ot_fysiko_aerio1.png)
Helleniq Energy’s research projects in the two marine blocks of the Ionian Sea are being accelerated.
According to information, the company that has leased the rights to research and exploit hydrocarbons in the concessions “Ionio” and “10 – Kyparissiakos Kolpos” is ready to move to the next stage of operations.
Drilling
Based on its contractual obligation, Helleniq Energy should proceed with the acquisition of 3D seismic data.
However, the concessionaire has already executed them at the end of last Autumn. So it brings the exploratory drilling phase closer.
The investment decision
As the CEO of Helleniq Energy, Mr. Andreas Siamisiis, recently announced, the group is expected to take the final investment decision for the two specific concessions towards the end of 2024.
It will have to process them on data collected by the special seismographic vessel from the two blocks of the Ionian Sea.
Crete
As for the other two promising offshore blocks of Crete, “West” and “Southwest”, the information says that the ExxonMobil and Helleniq Energy joint venture already has in its hands the first fast track results of the seismic surveys that were completed in early of 2023. They are waiting for the whole package of data in order to proceed with their interpretation and analysis and then to follow, within the next year, the making of the investment decision for drilling in the specific blocks.
Investors
At the same time, and as market sources report, Helleniq Energy is looking for a partner for the two marine concessions in the Ionian Sea. This move aims, on the one hand, to activate a more experienced player in the field of exploration and exploitation of natural gas fields and, on the other hand, to limit the financial burden required for drilling.
According to market sources, Energean is also looking for a partner for the onshore block of Ioannina.
Ioannina
This is the most mature concession out of a total of six in Greek territory. Based on the goal set by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), the first exploratory drilling in the Epirus region is expected towards the end of the first half of 2024. However, Energean sets a series of conditions for the execution of the specific drilling operations. Such as the issuing of the environmental conditions, the preparation of the construction site in the area and of course the lease of the drilling rig.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country