Seismic surveys south of the Peloponnese and west of Crete began today by ExxonMobil to explore natural gas deposits, according to the Minister of Environment and Energy, Kostas Skrekas.
Speaking to national broadcaster ERT, he revealed that the search for hydrocarbons in Greece has begun. The ship is on its way. It casts and drags cables that emit signals and listens for the return of the signals so that it can determine the geological makeup.
The relevant NAVTEX, issued last Monday, provides that areas in the Ionian Sea, the Western Sea and west and east of Crete are reserved so that the ship Nanco Swift can carry out equipment deployment and seismic surveys.
“This may be the last large deposit we are investigating in SE Europe”
“The deposit that we suspect exists southwest of Crete and the Peloponnese is perhaps the last hope that the mining industry has to find a large natural gas deposit in the region of Eastern Europe,” the minister revealed to ERT, clarifying however that “until we drill down and see what’s really there, everything is just estimates.”
Read also: ExxonMobil scours Crete deposits
Seismic surveys will last 2 years. Based on their results, the consortium will decide whether to proceed with exploratory drilling or withdraw. If the investigations are deemed satisfactory, natural gas production may begin in 2027.
The schedule of surveys:
2022- 2024: Seismic surveys
2024-2026: Exploratory drilling
2026-2027: Field development
2027-2028: Natural Gas Production
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
Airbnb Greece – Initial CoS Ruling Deems Tax Circular Unlawful
The case reached the Council of State following annulment applications filed by the Panhellenic Federation of Property Owners (POMIDA)
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
