Procedures for the first research drilling gas in Greece after about four decades.
The drilling for natural gas in «Block 2» of the Ionian Sea, scheduled for February 2027, gradually passes to the next stage as well as Both licensing and organizational preparation develop of the project.
Within the month it is expected to be submitted to the Ministry of Environment and Energy Environmental Impact Study which relates exclusively to research drilling. This is about a separate procedure from the one before for seismic surveys, which have already been completed and licensed.
The choice of Igoumenitsa
At the same time, it appears that «Locks» and port selection supporting equipment and equipment transport operations.
Market players estimate that the port of Igoumenitsa is the most dominant solution, as it is within a shorter distance of where the drilling will take place.
The composition of the consortium
The project is managed by Energean, which participates in the consortium with a percentage 30%. The ExxonMobil has 60% the rights, while the Helleniq Energy participates with the remaining 10%.
The drilling «Person-1» is expected to reach depth 4.622 meters, with its total cost calculated between EUR 60 and 70 million.
It is noted that it is the first research drilling planned to take place in the country after about 40 years.
Estimates of the deposit
On the basis of the geological estimates to date, potential gas reserve in the region is calculated as 270 billion cubic meters.
Once drilling confirms the existence of a mine that can be used commercially, its development phase will follow, which is estimated to require investments about EUR 5 billion.
According to the same estimates, the use of such a deposit could be avoided.In the Greek State revenue reaching EUR 10 billion 20 years deep.
