First Ionian exploratory drilling set for early 2027, minister says

File photo. [InTime News]

Greece is connected track to transportation retired its archetypal exploratory hydrocarbon drilling successful astir 50 years, with operations successful the Ionian Sea expected to statesman successful aboriginal 2027, according to Environment and Energy Minister Stavros Papastavrou.

Speaking to SKAI, Papastavrou said the drilling rig lease will beryllium finalized by April, paving the way for the archetypal exploratory well, involving ExxonMobil, Energean and Helleniq Energy, to commence astir January-February 2027.

He added that seismic surveys south of Crete and the Peloponnese are expected to statesman earlier the extremity of this year, arsenic authorities measure whether imaginable reserves are commercially viable.

On planetary developments, Papastavrou expressed cautious optimism that vigor prices whitethorn easiness pursuing a ceasefire statement betwixt the United States and Iran. The reopening of cardinal maritime routes is seen arsenic peculiarly important for Greece, fixed its strong shipping sector. However, helium warned the truce remains fragile.

The curate stressed that heightened planetary uncertainty continues to unit vigor reserves, prompting authorities to support changeless vigilance to guarantee astatine slightest 90 days of supply security.

Ahead of Greek Easter, the ministry is besides coordinating with marketplace operators to negociate energy request and support grid stability. Despite seasonal fluctuations, Papastavrou reassured that “there is nary hazard of a blackout.”