Greece is set to launch its first offshore drilling operation in
Greece is set to launch its first offshore drilling operation in four decades, following a landmark agreement signed in Athens on Thursday between Energean, HelleniQ Energy, and U.S. energy giant ExxonMobil. The deal, signed during the sixth meeting of the Partnership for Transatlantic Energy Cooperation (P-TEC) taking place at Zappeion Hall, marks a pivotal moment in the country’s energy ambitions and its drive toward greater self-sufficiency.
The partnership focuses on Block 2, an offshore area in the Ionian Sea west of Corfu, managed by Energean and HelleniQ Energy since 2020. The addition of ExxonMobil to the consortium brings global expertise and investment power to Greece’s most promising natural gas prospect.
Greek Minister of Environment and Energy Stavros Papastavrou called the agreement “a historic signing” that revives exploration after a 40-year hiatus.
“This farming agreement will bring technology and capabilities in the hydrocarbon area in Greece,” he said. “It will bring exploratory drilling back to Greece after 40 years. And if successful, it will provide Greece and Europe with domestic resources.”
Energean CEO Mathios Rigas highlighted both the project’s strategic value and its local roots.
“Block 2 in western Greece is a block that we have been working on since
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