HOUSTON (ANA-MPA/P. Kasfikis) – The first offshore exploratory drilling in the Ionian Sea in 40 years has been set on track for the first quarter of 2027, according to plans by the ExxonMobil-Energean-Helleniq Energy consortium.
According to a statement by the Greek Environment & Energy Ministry, this development was discussed during a bilateral meeting between Minister Stavros Papastavrou and Deputy Minister Nikos Tsafos with ExxonMobil Vice President John Ardill, on the sidelines of the second day of the energy conference CERAWeek in Houston. Attending the meeting, which was focused on the project’s timeline, was Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) Aristofanis Stefatos.
The goal is for the consortium to complete all necessary actions, including the transport of exploration equipment, in order to begin drilling in less than 12 months.
Earlier, Minister Papastavrou spoke with Kenneth Medlock of the Baker Institute for Public Policy at Rice University following an invitation to a fireside chat, and noted that “the development of the hydrocarbon sector is part of the strategy of realistic energy followed by the government of Kyriakos Mitsotakis.” In addition, the Greek energy minister also pointed out that the relative restraint of energy prices in Greece, during the Middle East crisis, is due to the differentiated energy mix that the country has developed by use of Renewable Energy Sources.
Responding to a question about Turkiye’s stance, he noted that threats of violence cannot be acceptable and do not comprise a measure of exercising policy, while he said that regional cooperation must rely on respect of International Law, trust, and reliability. Under this angle, he said that the scheme of 3+1 (Greece, Cyprus, Israel and the US) in energy serves as a new model of cooperation based on respecting international rules and on institutional communication.
Papastavrou also had the opportunity to meet with Ukrainian Energy Minister Denys Shmyhal and discuss strengthening energy cooperation and investment opportunities for Greek companies.
The Greek minister was also scheduled to meet wtih US Secretary of the Interior and National Energy Dominance Council head Doug Burgum on Tuesday, on the sidelines of CERAWeek.
