ExxonMobil and Helleniq Energy, the holders of offshore licenses west and southwest of Crete, are awaiting the results of seismic surveys completed by Norwegian geophysical company PGS in February before deciding, within 2024, whether to take the next step and conduct exploratory drilling.
The partners are expected to decide within the next twelve months.
Officials at EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company, have already noted preliminary results of surveys are encouraging.
Drilling is unlikely over the next year, but if all goes smoothly, such work is expected to be carried out in 2025, unless the license holders opt to also conduct 3D seismic surveys, in which case drilling would be postponed until 2026.
