Press Release

Open acreage interpretation reports are now available to the industry

HHRM’s geoscience team have completed the PSDM seismic interpretation reports for the open acreage offshore areas in the Ionian Sea and south of Crete island.

The Ionian Sea Report focuses mainly on the central Ionian Sea and it is the last study to complete the work in western Greece’s open acreage offshore areas. It is based on eight (8) wells and approximately 2,800 kms of 2D PSDM seismic data.

On the other hand, the South of Crete Report is the first comprehensive study in this frontier area ever carried out, benefitting from the most up-to-date available geophysical data. New structures have been identified resembling the two well-known geological analogues from E. Mediterranean, namely Leviathan and Zohr. The study includes an updated map to show the location of mud volcanoes, derived from the available seismic data. Interpretation made use of these features and a lot of information was received with regards to the rocks buried deep in the underground, as well as their thermal maturity and the organic matter contained in them. Fifteen (15) seismic lines of approximately 2,500 kms in total were interpreted and included in the report.

These reports let the company’s geoscientists to expose themselves to geological environments similar to the geological settings in the E. Mediterranean, where significant natural gas discoveries have been made over the last few years.

Both reports are available to companies that have purchased the seismic data contained within. What is more, the Strategic Environmental Assessments are in progress, allowing speedier upcoming licensing procedures.

This way the above-mentioned open acreage areas in the Ionian Sea and south of Crete can now attract even more interest towards a license award.