Offshore block licenses south of Crete held by a consortium comprising Total, ExxonMobil and Hellenic Petroleum (ELPE) could contain natural gas deposits measuring 280 billion cubic meters (10 trillion cubic feet), regional seismic data indicates.
If this amount is confirmed, the deposit south of Crete will be equivalent, in terms of quantity, to that of Israel’s Tamar field or double the Aphrodite field within Cyprus’ EEZ.
The area south of Crete shares similar geological traits to Egypt’s Zohr field, a major regional discovery along with Cyprus’ Aphrodite and Israel’s Leviathan, the data gas shown.
PGS has reprocessed seismic data that was collected through surveys conducted south of Crete as well as in the Ionian Sea, on Greece’s west side, between 2012 and 2013.
Drilling operations still need to be conducted and additional seismic data gathered before any definite conclusions are reached. The overall procedure will require about eight years to complete.