Norwegian geophysical company PGS has completed 2D seismic survey work west and southwest of Crete on behalf of the ExxonMobil-Helleniq Energy consortium, holding licenses for blocks in the two areas.

Results offering a picture on the hydrocarbon prospects at these offshore Cretan areas are expected to be ready in approximately one years’ time, sources informed.

PGS’ Sanco Swift vessel spent nearly three-and-a-half months conducting seismic surveys at the two offshore blocks, measuring a total of 40,000 square kilometers, to collect data that will now be examined at the company’s specialized labs.

According to sources, PGS collected more than double the required seismic survey data for the ExxonMobil-Helleniq Energy consortium following an agreement with EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company.

The PGS vessel scanned 13,000 square kilometers of offshore territory, double the 6,500 square meters specified in the consortium’s license (3,250 square meters for each block).

Ensuing and more detailed 3D scans by the ExxonMobil-Helleniq Energy consortium at these blocks has not been ruled out, sourced noted. If so, this follow-up effort would take place during the final two months of 2023 or early in 2024, the sources added.

However, ExxonMobil, the consortium’s chief partner, is most likely to skip this stage and move straight on to drilling if the 2D seismic results are favorable.