Guarded optimism for hydrocarbon reserves

Greece whitethorn person important hydrocarbon reserves that connection information for large, high-risk investments. That is the upshot from Chevron’s information successful the tender for 4 caller blocks disconnected the coasts of Crete and the Peloponnese, according to Aristofanis Stefatos, who, astatine the urging of the then vigor curate Kostis Hatzidakis, near the Norwegian lipid manufacture successful 2020 to instrumentality to Greece and take implicit the reins of the Hellenic Hydrocarbon and Energy Resources Management Company (EDEYEP), and spearhead the nationalist task of exploring imaginable deposits.

In an interrogation with Kathimerini a week aft Chevron’s involvement was formalized, the CEO of EDEYEP appeared optimistic astir the result of the tender but besides realistic astir the adjacent steps.

“Without drilling, we cannot corroborate oregon contradict the indications of deposits,” said Stefatos, explaining that it will take astir three years to cognize whether Greece really has viable reserves oregon not, and 5 to 8 years to start production.

He besides revealed that successful some of the blocks already conceded, seismic surveys person confirmed oregon adjacent strengthened erstwhile indications.

He avoided, however, to accidental when ExxonMobil will transportation retired the archetypal drilling.