Intensified, follow-up seismic surveys by a Total-led consortium at two offshore licenses south and west of Crete will go ahead as scheduled late this year or early in 2021, sources have informed.
The exact commencement date will be determined by the availability of specialized research vessels and weather conditions. For now, preparations are progressing as planned.
France’s Total heads a three-member consortium for the two blocks off Crete, partnered by US giant ExxonMobil and Hellenic Petroleum (ELPE).
Low shipping traffic in the region will enable hydrocarbon exploration work as late as the spring season of 2021 if next winter’s weather conditions prove unsuitable.
Initial survey work at the Cretan blocks have produced encouraging results, especially at an offshore area given the name Talos, which has displayed similar geological traits to Egypt’s offshore Zohr gas field.
The results of preliminary research conducted by ELPE in 2015 convinced Total and ExxonMobil to form a partnership with the Greek player.