Helleniq Energy, formerly named Hellenic Petroleum (ELPE), has successfully completed a first stage of seismic surveys at two offshore licenses, Ionio, in the Ionian Sea, and Block 10 in the Gulf of Kyparissia, west of Peloponnese, and is following up with a second round of exploration activity, EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company, has announced.

Helleniq Energy, possessing full ownership of both licenses, has just officially launched its second round of surveys at Ionio and Block 10.

The second-round survey work at Ionio entails collecting and processing 3D seismic data and conducting geological work and environmental studies for an area covering a total of 900 km2. At Block 10, Helleniq Energy plans to collect and process 3D data and also conduct petrophysical and geophysical analyses over 400 km2.

“We welcome Helleniq Energy’s decision to formally enter the next phase of exploration in the Ionian Sea and Block 10. We have already built a very good cooperation, which we are confident will continue during phase two. We are particularly pleased that the company has responded with exceptional speed to the Greek government’s request for a swifter exploration schedule concerning the natural gas fields, and we look forward to the rapid completion of phase two, with the same level of dedication for the protection of the environment and marine life. With our investors, we share the belief that the exploitation of our natural resources will boost the country’s economic growth and enhance its energy security, and we are working together to achieve the energy transition to a strengthened and sustainable energy system”, EDEYEP chief executive officer Aristofanis Stefatos said.