ExxonMobil: Extension of investigations by three months in Crete – Economic Post

The seismic surveys of ExxonMobil – Helleniq Energy in the marine concessions of Crete send optimistic signals regarding the identification of possible natural gas deposits.

The American oil company ExxonMobil, which is also the operator (administrator) of the joint venture, is said, according to the information of “NEON”, to extend for two more months the acquisition of two-dimensional seismic data in the offshore blocks “West of Crete” and “Southwest” of Crete”.

They were originally scheduled to finish at the end of January.

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ExxonMobil spoke to “NEWS” about the progress of the seismic surveys and referred to the schedule of the completion of the work phase of the seismographic vessel “Sanco Swift” of the Norwegian PGS. “The work is expected to be completed in the first quarter of 2023”, was the company’s response to the newspaper’s question regarding the timing of the end of the specific stage of the overall research program it has undertaken following the relevant agreement with the Greek State.

Other sources of “NEON” note that the first samples of the data received by the seismographic vessel from the subsoil of the two concessions “depict interesting geological structures in terms of the possibility of the existence of hydrocarbon deposits”. This is also the reason, according to the same information, why ExxonMobil has reportedly decided to continue operations beyond January. In fact, “Sanco Swift” will intensify the “scanning” in specific parts of the two sea blocks, where the “interesting geological structures” have been identified.

The results of the investigations

“TA NEA” also asked ExxonMobil regarding the time of delivery and detailed processing of all the seismic data that will be collected by the PGS seismographic vessel.

“After the completion of the acquisition of the 2D seismic data on the two offshore blocks in the west and southwest of Crete by the PGS company, ExxonMobil will receive the data and analyze the results to determine the next steps,” was the response given by the American company in the newspaper.

According to “NEON” sources, this process of analyzing the results is likely to last for about six months. Based on these conclusions, ExxonMobil will decide what the next steps will be for the implementation of its research program.

Based on the usual scientific and operational practice followed by the oil companies, after the 2D seismic surveys follow the 3D seismic surveys.

However, as “TA NEA” has written, it is possible that the American oil company will follow the operational tactics of Cyprus. There, ExxonMobil bypassed work to acquire 3D seismic data and went straight to first test drilling.

It is possible, say “NEON” sources, to implement the same plan in Crete. That is to speed up the first test drilling by one year. If this happens, then it will take place in 2024, instead of 2025.

The commitment with the Greek government

ExxonMobil with its statement to “NEWS” describes its level of cooperation with the Greek Authorities as “excellent” “both at the operational level and in the care taken to comply with the necessary environmental measures”.

The American giant, as “TA NEA” has revealed, has re-assured the Greek government in the first ten days of December for the continuation of its research program in the maritime concessions of Crete.

“TA NEA” asked ExxonMobil if its commitment remains. “ExxonMobil continues its planning based on the joint venture agreement with its partners and the Greek government”, was the answer he gave.

The News printed version