In an interview to Greek media, Environment and Energy Minister George Stathakis announced the government’s intent on exploring Greece’s neglected energy resources, which include reserves rich in fossil fuels.
“It is now possible for exploration to be carried out at much greater sea depths, with greater rates of accuracy in the estimates made. It is also possible to drill at much greater depths, in ways that are environmentally safe. On land, also, the new technology permits methods that are more environmentally friendly and more efficient,” said Stathakis.
The significant hydrocarbon reserves that have been found creates a “series of new facts that generate optimism,” Stathakis added.
Last Thursday agreements were signed for the leasing of exploration rights in three mainland areas of western Greece with new agreements to be signed leasing for underwater exploration rights in Block 2 and Block 10 in the Ionian Sea, west of Corfu and Kyparissia Bay.
The Minister revealed that the ministry was currently working on a Joint Ministerial Decision approving the environmental impact study for the projects and on improving the legislative framework for hydrocarbon exploration and drilling, in line with best practices in other countries.
“The aim is to improve the framework for investors but also for the best protection of the environment and the safety of the workforce,” he said.
Stathakis confirmed that there was “strong and rekindled interest” in the exploitation of Greek hydrocarbon reserves in the Ionian Sea and south of Crete from major global actors, especially in the wake of the discovery of the massive Zohr natural gas field in Egyptian waters.
Responding to criticism that the government had delayed the signing of the concessions, the minister said that the government’s strategy had been to proceed calmly, without “exaggerations and hurried moves”.
“The fact is that in Greece we do not have the experience and required expertise – that we are required to sail on unknown waters. For this precise reason, in the present phase we are amassing knowhow, so as to proceed with the necessary changes to the legal framework for hydrocarbons,” he said.
Using the experience of countries such as Cyprus, he added, efforts would be made to significantly reduce the time between the expression of interest and the signing of agreements.
