Hellenic Petroleum (ELPE) is preparing to conduct seismic surveys at a license in the Ionian Sea, a development that comes as a surprise given the overall stagnancy in Greece’s upstream sector and fears of an end to all exploration aspirations.
ELPE plans to conduct surveys at ‘Ionio’, its Ionian Sea block measuring 6,671.13 square kilometers, southwest of Corfu, opposite the Paxi islands, for a clearer picture on possible natural gas deposits, energypress sources have informed.
ELPE has stepped back from a number of upstream projects but, given this latest development, appears keen to carry on exploring in areas where it has maintained interests.
Last Friday, EDEY, the Greek Hydrocarbon Management Company, announced that ELPE has completed seismic surveys at Block 10, west of the Peloponnese.
ELPE is going into the ‘Ionio’ project alone following the withdrawal of Spanish partner Repsol.
Norwegian company Sharewater has been commissioned the seismic survey for ELPE’s ‘Ionio’ block. Sharewater’s research and survey vessel SW Cook has arrived at the port of Patras in preparation for the task.
However, the vessel is reported to have suffered minor damage following a collision during the mooring process at the port and it remains unclear when it will be ready to proceed with the ‘Ionio’ block survey.