HEL.PE .: Which areas and how are gas explorations proceeding

The Hellenic Petroleum Group has decided to continue the exploration programs that will lead to the identification of possible natural gas deposits in the offshore concessions of Western Greece and Crete.

CEO Andreas Siamisis during a conversation with reporters and asked about the company’s plans after the public statement of support for the prime minister said: “Based on our new strategy that has to do with the corporate and energy transformation of the group we had excluded the explorations in onshore areas and in blocks with oil fields. We continue in the maritime areas “, he stressed, underlining that” in the new era led by Hellenic Petroleum, hydrocarbon explorations have a part in our portfolio “.

According to the managing director, the two-dimensional seismic surveys immediately proceeded to the maritime concessions “Ionian” and “Kyparissiakos Gulf”. The results, like the 3D data download, take up to 12 months. HEL.PE has 100% of the research and exploitation rights in the specific concessions and when asked if the company is looking for a partner, he replied: “We proceeded with the seismic investigations ourselves. “With the results we will have in our hands, we will look for a partner as the explorations for natural gas fields are usually done by a consortium”.

The blocks of Crete

HELPE also participates, with a minority percentage of shares,

in the joint venture with TotalEnergies and ExxonMobil, which have the rights to explore and exploit hydrocarbons in the maritime concessions “West of Crete” and “Southwest of Crete”.

The CEO of the Greek company was asked about the prospects of research in these marine blocks. He replied that “the specific concessions are interesting as they look like corresponding geological structures of the SE Mediterranean where discoveries have been made”. In fact, he added that HEL.PE will do the research either by themselves or with other players.

Regarding the fate of the investigations in Crete, Mr. Siamisis attributed the delay to the backlog that exists with the appeal of ecological organizations to the SC against the SMPE of the Greek state for the regions. The CEO considers that as long as there is this backlog, investors find it difficult to proceed with research. Asked to comment on information that one of the partners of the Cretan consortium is seeking to disengage, he declined to respond, saying: “Dynamics have developed in the industry and based on them we can not rule anything out. We will explore the area either by ourselves or with other partners “.