Within 2025, the Deputy Minister of Environment and Energy, Alexandra Sdoukou, has set the first exploratory drilling for hydrocarbons, while sources say that by early summer, developments are expected for the investment decision on the first exploratory drilling by the ExxonMobil-HelleniQ Energy consortium. 

During the 14th Athens Energy Summit, Ms. Sdoukou noted that "it is likely that later this year we will see the first exploratory drilling, most likely in the area of Crete, which will give us an initial picture of potential hydrocarbon deposits. We are at a critical point in time; we are waiting for the final investment decisions of the companies." 

THE ROLE OF INVESTORS 

He described the interest of the US companies Chevron and ExxonMobil, which are active in the exploration sector in Greece, as strategically important, stressing that the country has worked systematically to overcome the difficulties and speed up the process. He expressed the hope that new investors would also be forthcoming in the near future.

CRETE 

Interest is turning to Crete, where ExxonMobil (operator) and HelleniQ Energy are running two concessions for fields west and southwest of Crete. Sources at HelleniQ Energy said it is possible that by the summer there could be developments towards an investment decision for the first exploratory drilling in the area.

BLOK A2 

HelleniQ Energy is also bidding for the new A2 marine concession, west of the "South of Peloponnese" marine block, for which Chevron has expressed interest, and the international tender is expected to run in the next period.