Oil well

Helleniq Energy is 12 to 18 months away from deciding whether to go ahead with drilling in the Ionian Sea and off the coast of the western Peloponnese, the CEO of the Greek petroleum firm told the Delphi Economic Forum on Thursday, adding that while the shift to greener forms of energy will happen, a "realistic plan" is needed in the meantime.

Greece's national hydrocarbon program is entering its most critical stage, that of the decision on whether to enter drilling rigs in the sea area of Crete to confirm whether indeed the indications of potential natural gas fields are capable of making the country a producer and exporter

The Cypriot Ministry of Energy, Commerce and Industry has announced the successful completion of the assessment drilling operations for Cronos-2 within Block 6 of the exclusive economic zone (EEZ) of the Republic of Cyprus. This project was undertaken by the joint venture of Eni Cyprus Limited (operator) and TotalEnergies EP Cyprus BV.

Analysis of samples taken off an oil leakage on the coast of Rize in the Black Sea region has confirmed the presence of crude oil.

Upon the reports of an oil leakage, geological engineer Professor Dr. Nafiz Maden set sail in September to collect samples to determine whether oil reserves are present in the Eastern Black Sea.

The first solid data from seismic research conducted in the Ionian Sea and the sea region west-southwest of Crete will be available by the end of 2023 and this data will be the basis on which a decision on whether to carry out exploratory drilling will be made, hydrocarbon industry sources said on Monday.

The first reliable findings from seismic research in the Ionian Sea and an area west-southwest off the coast of Crete will be available by the end of 2023 and this data will determine whether exploratory drilling will be carried out, hydrocarbon industry sources said on Monday.

Greece's potential fossil fuels deposits may amount to 3.5 billion barrels of oil equivalent (BOE), according to an estimate presented by the Hellenic Hydrocarbons and Energy Sources Management Company (HEREMA) at an event to announce its new company identity and the expansion of its activities to offshore wind and the storage of natural gas and carbon dioxide.

Turkey's fourth drill ship will begin drilling activities next summer, Energy and Natural Resources Minister Fatih Dönmez said on Nov. 25.

The new ship, which is capable of operating in harsh sea conditions and even in high-pressure reservoirs, will join the fleet in the spring of 2022.

Experts from the US and other countries started arriving in Cyprus to take part in the drilling process

Turkey may drill more boreholes in its search for gas in the eastern Mediterranean, Energy Minister Fatih Dönmez said on May 24.

Turkey has already opened eight boreholes in the region, Dönmez said, adding that while there were signs of natural gas, there had been no economically significant discovery.