Hydrocarbon exploration

Assessment of natural gas reserves by year end, PM says

Greece's hydrocarbon exploration southwest of the Peloponnese peninsula and south of Crete island is proceeding without delays, Prime Minister Kyriakos Mitsotakis told a press briefing on the economy Monday, adding that an assessment of the natural gas potential is expected by the end of 2023.

He said that no further blocks are under consideration for hydrocarbon exploration.

Oil Exploration off Montenegro Triggers Fears for Environment, Tourism

Projections suggest Montenegro might have enough oil and gas out at sea to cover its own needs. It signed a concession contract in 2016 and officials say the first exploratory drilling might take up to six months.

But local residents and environmental activists are worried.

"There is no vision," said Natasa Kovacevic of the NGO Green Home.

EU imposes sanctions on two people over Turkey’s hydrocarbon drilling off Cyprus

The European Union on Thursday imposed sanctions on two individuals over their role in Turkey drilling for hydrocarbons off the coast of Cyprus, subjecting them to travel bans to the bloc and asset freezes.
The European Council did not name them. The move followed November's decision to impose economic sanctions.

Daily production of Romgaz to grow by approx. 30pct

The daily production of Romgaz will increase by about 30 per cent, as the company started to drill deep in the Caragele structure, through the 77 Rosetti well, and also as a result of accelerated drilling in the medium deep area of the structure, through the introduction of two new wells, informs the company in a press release sent to AGERPRES on Thursday.

Energean gets extra year to explore Montenegro's offshore oil and gas blocks

Montenegro, which is hoping to find oil and gas reserves off its coast, said on Friday it has extended Energean Oil & Gas's licence by a year to explore two blocks as the Greek company required more time.

Montenegro awarded Energean a 30-year oil and gas exploration licence in 2017 for the blocks covering a combined 338 square kilometers in the Adriatic Sea's shallow waters.

WWF Greece spearheads campaign to stop oil drilling in Ionian Sea

One hundred scientists, scientific bodies and organizations from different parts of the world have joined forces with WWF Greece to urge Greek Prime Minister Alexis Tsipras to cancel planned hydrocarbon exploration and exploitation in the Ionian Sea, the environmental conservation group said in a press release Monday.

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