Europe: Gas prices slide...

In Week 30 of 2025, European gas prices declined, with Dutch TTF prices...

Region: Heatwave drives SEE...

In Week 30 of 2025, electricity market prices rose significantly across most Southeast...

Romania: INVL Renewable Energy...

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on...

Croatia: Summary of Guarantees...

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold...
Supported byClarion Energy
HomeSEE Energy NewsGreece, ExxonMobil submitted...

Greece, ExxonMobil submitted a request for the extension of its hydrocarbon exploration license in the two blocks

US company ExxonMobil submitted a request for the extension of its hydrocarbon exploration license in the two blocks west and southwest of Crete by additional two years.

Last month, ExxonMobil acquired the majority of hydrocarbon exploration rights in the two blocks west and southwest of Crete, following the departure of French TotalEnergies last April.

Previously, ExxonMobil and TotalEnergies, with 40 % each, along with Greek oil refiner Hellenic Petroleum (ELPE) with 20 %, had the majority of hydrocarbon exploration rights. ExxonMobil now has 70 % and ELPE the remaining 30 %.

The two blocks, titled “west of Crete” and “southwest of Crete”, were conceded to the consortium through an international tender announced in 2017 after the companies themselves expressed an interest. The offshore areas to be surveyed cover a total of 40,000 square kilometers.

The maritime area off Crete is considered a hopeful target for the discovery of hydrocarbons as it has similar geological features to other areas in the Eastern Mediterranean (Cyprus, Israel) where significant natural gas reserves have been discovered. However, due to the great depth, experts say it will take the discovery of considerable quantities of mineral wealth (equal to over 500 million barrels) for its extraction to be financial sustainable.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Gas prices slide in Week 30 amid strong supply, cooling demand

In Week 30 of 2025, European gas prices declined, with Dutch TTF prices falling below €34/MWh — the lowest level recorded since April 29, 2025. This decrease was mainly driven by steady Norwegian gas supplies and continued progress in...

Region: Heatwave drives SEE electricity prices to summer highs in Week 30 of 2025

In Week 30 of 2025, electricity market prices rose significantly across most Southeast European (SEE) countries compared to the previous week. All markets recorded weekly average prices above €100/MWh, with the exception of Türkiye. This marked the highest price...

Romania: INVL Renewable Energy Fund I secures €29.3 million loan for 71 MW solar project

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on renewable energy projects, has obtained a €29.3 million loan from Kommunalkredit Austria to finance the construction of a 71 MW solar power plant in Dolj County,...
Supported byVirtu Energy
error: Content is protected !!