x

Economy

Hellenic Petroleum: Hydrocarbon Exploration in the Ionian Progressing

ATHENS – The Hellenic Petroleum Group is now processing and evaluating the data that emerged from the seismic surveys in the Ionian and Gulf areas of Kyparissia, which were completed in February. Then, within 6-12 months, smaller areas of sea will be selected for higher-definition (three-dimensional) seismic surveys, which will more accurately reveal the location and size of possible deposits, the CEO of the Hellenic Petroleum, Andreas Siamisis, said on the sidelines of the event for the inauguration of the group’s photovoltaic park in Kozani.

Siamisis clarified that the group is only interested in natural gas and offshore (not land) deposits and for this reason, did not proceed with drilling in the Western Patras Gulf, where surveys indicated the presence of oil.

The completion of seismic surveys in the Ionian regions will also make it possible to attract potential investors in joint ventures for the exploration and extraction of hydrocarbons, as the previous investors withdrew.

Asked about the prospects of the areas west and southwest of Crete that have also been allocated for hydrocarbon exploration, Siamisis said that investments can not proceed before there is a decision on a petition objecting to the relevant environmental studies at the Council of State.

“Once the formal obstacles are eliminated, we will proceed either with the same partners, or with other partners, or alone. In these areas, where the sea depths are great, the knowhow is important,” Siamisis stressed. He noted, however, that the wider region has great prospects due to the significant discoveries that preceded it in Egypt and the Eastern Mediterranean.

The CEO of the group stressed that, as the gas units will operate as base units, it is recommended not to be dependent on specific producers. “Instead of importing gas to generate electricity, we will exploit domestic deposits,” he said.

RELATED

ATHENS – Greek tax-free shipping oligarchs who control the seas and got the government to allow their vessels to keep moving Russian oil despite European Union sanctions over the invasion of Ukraine will return to their feature showcase at the Posidonia 2022 conference.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…To The Holy Land – A TNH Documentary by Clelia Charissis

This past Easter season, this great feast, Pascha for Greek Orthodox Christianity and Passover for Judaism, found us during Holy Week in the Holy Land, at the Gate of Worship.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.