Greece commences seismic surveys off Crete, Peloponnese in hopes of discovering hydrocarbon reserves

By Ahmet Gencturk

ANKARA (AA) – Greece commenced seismic surveys off Crete (Girit) and Peloponnese in hopes of discovering hydrocarbon reserves, its energy minister said Thursday.

“The ship (Sanco Swift) has started. It is laying out the wires with the hydrophones it is towing behind, which receive the sound waves so that it can determine the geological structures (of the area),” Kostas Skrekas said on public broadcaster ERT’s morning show.

“The deposit that we suspect lays around the southwest of Crete and the Peloponnese may be the last hope to find a large natural gas deposit in the region,” he added.

If the results of the surveys are judged satisfactory, exploratory drilling will take place in 2025. Consequently, the production will begin around 2027-2028.

Skrekas said Greece has one of the strictest legislation on environmental protection, which will be observed during the endeavor in response to concerns raised by Greek and international environmental groups about drilling in the area.

Greece issued a Navtex -- the international navigational warning to ships -- for two areas on Tuesday -- off the western-southwestern coast of Crete and off the southwestern coast of the Peloponnese in the Ionian Sea, as part of its efforts on an exploration of hydrocarbon reserves to lessen its dependency on imported energy.

That development came one day after Prime Minister Kyriakos Mitsotakis announced that Exxon Mobil will soon start seismic surveys in two new areas for potential energy sources in Greek waters.