ELPE: The pace for hydrocarbon exploration is accelerating

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Of Thanks to Floudopoulos

The intention of the Hellenic Petroleum Group to continue the research programs for the location of natural gas deposits in the Ionian and Cretan regions, was underlined by the group’s CEO A. Siamisis.

Mr. Siamisis during a discussion he had with journalists on the sidelines of the inauguration of the large photovoltaic park of ELPE in Kozani, said that based on the new strategy that has to do with the corporate and energy transformation of the group, ELPE had excluded investigations in onshore areas and in blocks with oil fields.

On the contrary, in the sea areas, with possible natural gas deposits, the explorations continue, added Mr. Siamisis, emphasizing that in the new era led by Hellenic Petroleum, the hydrocarbon explorations have a part in our portfolio.

Mr. Siamisis referred to the program of two-dimensional seismic surveys that was successfully completed in the Ionian Sea and the Gulf of Cyprus. As he said, the interpretation of the data and the receipt of three-dimensional seismic data will follow, which will require a period of another 12 months.

It is noted that in the specific areas the ELPE have 100% of the exploration and exploitation rights, although as stated by the CEO of the ELPE, the explorations for natural gas fields are usually done by a consortium. With the results we will have in our hands, we will look for a partner, said Mr. Siamisis.


Apart from the Ionian, ELPE also participates together with the French Total and the American ExxonMobil in the surveys in the area in the south and west of Crete. In relation to the specific concessions, Mr. Siamisis, stressed that they are interesting as they resemble similar geological structures of the Eastern Mediterranean where discoveries have been made. He added that ELPE will do the research either with themselves or with other players.

Regarding the delays, the CEO of ELPE attributed them to the backlog that exists with the appeal to the CoC at the expense of the strategic environmental impact study. As long as this issue is pending, no serious company could proceed with the investigations, he stressed.

Source: Capital

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