The latest developments in the hydrocarbons research and development process in the wider Black Sea- Southeast Europe- Eastern Mediterranean area highlight significant natural gas discoveries in the Romanian sector of the Black Sea, namely the Neptune field, which was discovered and operated by US energy giant ExxonMobil, in the Cypriot Exclusive Economic Zone (EEZ), the Glaucus field in Block 10, also drilled and to be developed by ExxonMobil and future perspectives in offshore Greece, namely in two blocks, South Crete and South-West Crete.

The Greek government recently contracted a consortium comprising ExxonMobil, France’s Total, and Hellenic Petroleum for the two Crete-based projects.

As offshore hydrocarbons’ research progresses in an arc stretching from the Southeast Mediterranean to the Black Sea, where the depth of water ranks between 1,500 metres and 2,000 metres, and as exploration technology develops, in the next 3-4 years, the interest of the industry is likely to be gradually transferred to western Greece and southern Crete, placing Greece at the epicentre of innovative drilling technology applications and offshore drilling in ultra-deep waters.

 

Full article available: https://www.neweurope.eu/article/offshore-hydrocarbon-development-in-greece-is-a-window-to-the-future/

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