The “road map” for the exploitation of hydrocarbons is announced by Mitsotakis – The “mature” areas


By Penelope Galliou

The national strategy of the country for the exploitation of domestic gas deposits brings to the fore “the government”, given the suffocating conditions created in the energy sector by the war in Ukraine and its unknown end, as well as the need for energy independence of the country.

The Prime Minister Kyriakos Mitsotakisafter the working meeting he will have in the morning at the Hellenic Hydrocarbon Management Company, is expected to present the roadmap for the resumption of exploration in the Ionian and South and West of Crete with a prospect of mining probably before 2030.

Existing resources will not be left untapped – Facilitation by eliminating bureaucracy

Kyriakos Mitsotakis is determined to say in all directions that the country is not going to leave untapped existing resources. In this context, according to information, the Prime Minister is expected to announce the establishment of a single company that will take over on behalf of the Greek state both the exploration and exploitation rights of hydrocarbons and the participation of DEPA in the international pipelines that transport natural gas.

In addition, the companies that are already active and have obtained licenses for the exploitation of specific areas, are expected to invite them to proceed with investments and the Greek government in turn will “facilitate” them in order to run more easily and to overcome bureaucratic obstacles in licensing procedures. Because the government attaches great importance to the simplification of procedures, Kyriakos Mitsotakis will probably announce the changes needed in the country’s licensing legislation.

It is also interesting how the state will assist in the progress of seismic surveys and in the fact that there will be legislative intervention to speed up the procedures for the approval of environmental studies in existing concessions and reduce the time limit for positive opinion from local communities.

The “mature” areas

To date, the investigations in the South of Crete are at a more advanced stage, where the French Total cooperates with the American ExxonMobil and the ELPE. However, investigations are also being carried out west of Crete with the participation of Total Energies, Exxon Mobil and ELPE.

Surveys are also carried out in the Gulf of Kyparissia with the sole tenant ELPE and in the plot west of Corfu where Energean and ELPE participate.

When are results expected?

In any case, the research processes and depending on the findings and extraction are very time consuming and are expected to take years. In fact, the estimates of those in charge say that if the seismic surveys are successfully completed and then the research drillings, in the next phase, the stage of extraction and production could begin, something that is not placed earlier than 2028-2029, if all goes well. .

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