Corfu

Block 2 license, west of Corfu, granted 12-month extension

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EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company, has granted a 12-month extension, until March, 2025, to a hydrocarbon exploration license held by Energean and Helleniq Energy, formerly Hellenic Petroleum (ELPE), for offshore Block 2, west of Corfu and reaching the marine border with Italy.

The extension was granted following a request submitted by Energean, head of the two-member consortium exploring Block 2, to allow more time for the establishment of a land-based logistics base.

Meanwhile, processing of 3D data collected at Block 2 by geophysical services company PGS on behalf of the consortium is nearing completion, energypress sources informed. Signs to date are promising, indicating that drilling at the designated marine area is highly likely.

The two consortium members are expected to decide on whether to explore the offshore plot further over the next 12 months. If not, Energean and Helleniq Energy will be required to return their license to the Greek State.

Offshore wind farm plan proving trickier than expected

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Implementation of the national offshore wind farm development program is proving to be trickier than expected, according to competent market sources, as local opposition and a number of constraints have raised questions over the feasibility of the initial plan.

Sites designated to host offshore wind farms are sufficient for the plan’s first wave of facilities until 2030, but the spatial sufficiency for further expansion, beyond 2030, is questionable.

The designation of offshore plots has been made by selecting marine areas situated at least six nautical miles, or 11 km, off coastlines, which, sources told energypress, ends up being inadequate if capacity targets of between 2 and 3 GW are to be achieved beyond 2030. An expansion of marine territory will be needed, the sources noted.

On the other hand, this distance criterion has also raised concerns among various local officials who fear offshore wind farm proximity could have an adverse effect on local economies.

Municipal and regional committees, tourism industry associations, hoteliers and a number of environmental groups are all on high alert and are even considering to take legal action in order to challenge the development of offshore wind farms. Strongest reaction, so far, has come from officials in Crete’s northeast, Ikaria and Corfu.

According to a preliminary national plan, an offshore wind farm target of 1,900 MW has been set for 2030, while a 6,200-MW target has been set for 2035. Further ahead, this plan’s goal for 2050 is 17,300 MW.