EXPLORATION

Ionian Block is located in the central and western areas of North Ionian Sea. It covers part of the Apulian platform and the Pre-Apulian zone. Oil and gas discoveries offshore Albania and Italy serve as valid indicators of a working petroleum system in the Ionian Block.

The hydrocarbon charge in this area is characterised by the proven hydrocarbon generation from late triassic source rocks (sabkha or lagoonal environments), early liassic intra-platform basin deposits, and lacustrine organic-rich facies offshore the Apulian platform.

In early 2022, a 2D seismic survey was undertaken in the Ionian Block covering approximately 1,600 l-km, and in Q4 2022 3D seismic data covering 1150 sq.km. were acquired.

In July 2023, the Operator entered into the second Exploration Phase, to finalize the processing and interpretation of newly acquired data, and mature the prospectivity of the exploration area.

Block 10 lies offshore the western Peloponnese in the Kyparissiakos gulf area. Water depths range between 500 m to 2,500 m. The existence of a proven petroleum system in the adjacent block, West Katakolon, coupled with the abundance of oil seeps and gas escapes in the region generate a clear interest in this block.

Moreover, several oil and gas fields have been discovered in Albania, which belong to the same fold and thrust belt with similar geological characteristics.

In early 2022, a 2D seismic survey was undertaken in Block 10 covering approximately 1,200 l-km, and in Q4 2022 3D seismic data covering 2430 sq.km. were acquired.

In July 2023, the Operator entered into the second Exploration Phase, to finalize the processing and interpretation of newly acquired data, and mature the prospectivity of the exploration area.

Located offshore the island of Crete, multichannel seismic data acquired in 2012 indicated the existence of carbonate structures analogous to recent gas discoveries made in the Eastern Mediterranean (Egypt and Cyprus).

In early 2023, a 2D seismic survey was undertaken covering approximately 4,490 km.

Located offshore the island of Crete, multichannel seismic data acquired in 2012 indicated the existence of carbonate structures analogous to recent gas discoveries made in the Eastern Mediterranean (Egypt and Cyprus).

In early 2023, a 2D seismic survey was undertaken covering approximately 7,789 km, and in Q1 2024 a 3D high-resolution survey was acquired, covering 900 sq.km.

In October 2024, the Joint Venture entered into the second Exploration Phase, to finalize the processing and interpretation of newly acquired data, and mature to prospectivity of the exploration area.

An onshore block in Western Greece, the Ioannina block is relatively underexplored and is considered the southern-most extension of the greater peri-Adriatic Basin, where oil and gas discoveries have been made in Albania, Italy, and Croatia. Over 10 billion barrels of oil and 30 TCF of gas have been discovered throughout this region.

In 2019 a 2D seismic survey was undertaken in the Ioannina Block covering 400 km. The Operator is currently in the second exploration phase which entails the drilling of an exploration well.