Andreas Siamisis (Helleniq Energy): 3D seismic surveys are starting in the Ionian

The immediate start of 3D seismic surveys for hydrocarbons in the “Ionian” region was announced by Helleniq Energy CEO Andreas Siamisii while presenting the group’s results for the third quarter to analysts yesterday.

“The interpretation of the data from the two-dimensional seismic has been completed, we have enough data to proceed with three-dimensional surveys in the coming weeks,” he said specifically.

At the same time, the seismic surveys in the West and South-West areas of Crete have been ongoing since yesterday.

Mr. Siamisiis said that the price increase starts to affect demand but only after the third quarter. He added, however, that the expectations for the last quarter are also positive, although not as much as the previous ones, while the beginning of 2023 is also expected to be positive, but no repetition of this year’s figures is expected.

He specifically spoke of the best figures in the last twenty years as the group announced yesterday operating EBITDA profits of Euro504 million in the quarter (against 125 million last year), while comparable net profits amounted to 381 million (from 33 million).

In relation to the taxation of surplus profits, it was reported that Elpedison will pay 18 million, while the framework for the taxation of the surplus profits of the refineries has not yet been finalized.

Mr. Siamisiis finally referred to the development of the renewable sources sector mainly with the development of projects which, as he said, has a greater benefit for the company and the energy transition, but also the social measures taken by the group by covering the heating oil needs of specific vulnerable groups but also in the market as a whole with an additional discount on the refinery price.

RES-EMP

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