Pre-work for drilling in Ionian Seas East of Kefalonia scheduled to commence early in decade 2020

Research on patraikos has so far been particularly positive according to the president and CEO of the elpe.
Environmental Studies are underway and pre-work for #drilling in early 2020’s.

The area of patraikos includes almost the entire marine area east of Kefalonia and Ithaca.

Speech of Eu. Tsotsorou at the signing of Hydrocarbons R & D Conventions

Greetings of the Chairman and CEO of ELPE Mr. Efstathios Tsotsorou at the signing of the lease agreements for the granting of the right to research and exploitation of Y / N in the marine areas of “West Crete” and “Southwest Crete”

Today’s signing of the lease agreements with the Greek State, the two major research marine areas, West and Southwest of Crete, is a day station for the Hellenic Petroleum Group, since with the signing of the agreements, on the one hand, it ends with success the first part of our strategic planning in the field of hydrocarbon exploration and production for the regions of Western Greece and the Ionian Sea, highlighting our leading role, with the participation in the nine (9) of the twelve (12) ees of government concessions, on the other hand, decisively strengthened our cooperation with leading international companies ExxonMobil and Total, contributing decisively to the major national project for energy independence and energy security.

In addition, today’s signing of the agreements marks a particularly important differentiation from the past in dealing with the scourge of bureaucracy, since from the submission of the application for interest to the RIS (May 30, 2017), and for two completely different regions, in relation to those included in the 2014 bare competition, [not only in size and geographic location (once one is outside the previous regions) but also in the research approach], as the date of submission of bids March 5, 2018 (90 days after the announcement in the Official Journal of the European Union, Noe 2017), fifteen (15) months have now been completed, generally lasting about thirty (30) months, creating reasonable expectations and hopes for even a late,

Based on geophysical surveys, our current estimates for the area of ​​Crete are very encouraging, but even though it is still early for estimates without drilling, and that’s true, speaking with experienced geodisciplines, you see in your eyes the satisfaction of the researcher which is now close to its target.

In spite of any difficulties affecting the overall strategic choices, the Group has in recent years created a promising portfolio of 10 selected areas in the Greek area where it is estimated that significant exploitable hydrocarbon reserves are to be discovered.

The research in Patraikos has so far been very positive. Three-dimensional earthquakes confirmed the main geological target, with estimated yieldable reserves of at least 140 million barrels of oil. Environmental studies are under way and drilling preparations are underway in the early 2020s. The Hellenic Petroleum Group is leading the organization of infrastructures in line with international practice, which includes the organization of a logistics base in a harbor installation and reception and management systems for geological waste.

The Group has also demonstrated that environmental protection is an inalienable term in all its business activities as it is a central axis and core of its Strategic Sustainable Development Plan, which includes the systematic co-operation and contribution to the development of local communities.

Based on the re-interpretation of all existing research data, more than 30 oil-rich geological structures have already been recorded in the marine environment of Greece, potentially containing several tens of millions of recoverable barrels of oil and gas, and there are very high expectations for locating and other geological structures in the land areas of Greece and of course in the marine region of the North Aegean and the Thracian Sea.

Vision 2050 and 2030 goals:
Our Vision 
To further develop international partnerships and to remain protagonists in the national effort, energy self-sufficiency and energy security, with the completion of research and production of hydrocarbons (petroleum, biogas natural gas) in all concessions, applying the most stringent EU standards. to protect the environment in partnership with local communities, contributing substantially to the transition from the “myth” of decades to the “reality” of the exploitation of the oil and gas fields.

Goals 2030:

  • the completion of the 3rd phase of the research period in the nine (9) concession areas of Western Greece, the Ionian and Crete, as well as future concessions, and then the execution of drilling drills and the development of “development plans” lease agreements.
  • Enlarging and strengthening strategic partnerships with major international companies, enhancing know-how, technology transfer and effective implementation of research and productive work.  
  • the active participation in the production of selected deposits, the implementation of infrastructure investments and the implementation of productive investments in the extraction and transport of oil and natural gas.
  • Creating significant added value for the Group from its own hydrocarbon reserves from successful research work
  • Substantial involvement in transforming the energy mix by locating deposits and producing natural gas and using it to produce electricity.

Oil research requires high investment, modern technology, partnerships, a lot of work with dedication to the goal, patience and persistence. We all in Hellenic Petroleum are optimistic that the end result will be absolutely positive, justifying our efforts and expectations, our Group’s Sustainable Development and contributing to the development of the country and especially of the local communities while safeguarding the invaluable heritage as a people, the natural wealth of our seas and our mountains.

In closing I would like to thank the players of today’s success:

  • RIS, EDEY for a constructive approach to addressing the various issues presented
  • Total and ExxonMobil for excellent collaboration

The staff and employees of Upstream HEPA for the long-term service, with perseverance and patience, even in adverse times, of the Vision for Research and Production of Hydrocarbons, a prerequisite for the energy self-sufficiency and energy security of our homeland, as well as for their decisive contribution in the preparation, negotiation and successful conclusion today of leasing the West and Southwest concessions of Crete, certifying the Group’s leading presence in the overall research project for the Western Greece, Ionian and Crete.

source – FB post of  -Ανοιχτή Συνέλευση Κεφαλονιάς-Ιθάκης ενάντια στην Εξόρυξη Υδρογονανθράκων /

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!