Hellenic Petroleum ELPE has successfully completed seismic surveys at offshore blocks in the Ionian Sea and the Gulf of Kyparissia, west of the Peloponnese, for which the company holds 100 percent exploration and exploitation rights, and once results have emerged, will seek to establish partnerships for these ventures, CEO Andreas Siamisiis noted yesterday.
The chief executive, who was speaking at ELPE’s official launch for a solar energy farm in Kozani, northern Greece, one of Europe’s biggest, informed that the group’s hydrocarbon exploration activities for potential natural gas deposits, part of the group portfolio, will focus on offshore areas and be accelerated.
The results of data collected through seismic surveys at the Ionian Sea and Gulf of Kyparissia blocks will now be studied, while 3D seismic data will also be collected, a procedure to require a further 12 months.
As for ELPE’s interests at Cretan offshore blocks, for which the company has formed a consortium with France’s Total and America’s ExxonMobil, surveys conducted have shown similarities with areas in the eastern Mediterranean, where major hydrocarbon discoveries have been made.
ELPE’s chief executive attributed delays affecting exploration work at the Cretan blocks to a legal case filed with the Council of State, Greece’s Supreme Administrative Court, targeting the venture’s environmental impact study. No serious company would continue exploring with such a legal case pending, Siamisiis noted.