Helleniq Energy’s interest in the new blocks “Crete I” and “Crete II” as well as that “South of the Peloponnese” was confirmed by the company’s CEO Andreas Shiamishis, speaking on Thursday at Helleniq’s general meeting of shareholders.

The tender for the two new blocks off Crete that Chevron has launched, as well as for the plot south of the Peloponnese Helleniq Energy has launched, are ongoing and will be completed in September.

“The company will evaluate all three new blocks under concession and will make final decisions in the coming weeks, although if we were to make a decision today, this would be positive,” said Shiamishis, making clear the group’s broadening interest in the hydrocarbon market.

Helleniq Energy is already participating in the concessions west and southwest of Crete jointly with ExxonMobil and in two concessions in the Ionian Sea: in “Ionian 2” jointly with Energean and in the “Ionian” plot autonomously.

For both the Ionian concessions and the new concessions under claim, Helleniq Energy is looking for partners in the international market, since as Shiamishis explained, these are investments in deep waters, with technical and financial challenges. As for drilling in the mature concessions off Crete, Shiamishis stressed that the decisions will be made by ExxonMobil, the operator of the joint venture, and estimated that it is most likely that we will not see a drill in 2025.

The increased interest in hydrocarbons is clearly linked to Helleniq Energy’s more general shift to traditional refining and oil activities and the parallel slowdown in RES growth and new energy transition technologies. The group’s new strategy, with the completion of the Vision 25 program as described by Shiamishis, is based on three areas: improving the traditional sector, developing the green utility (Elpedison) and a realistic approach to the energy transition, without losing its original vision.

“Sitting in an office and planning a future that cannot be realized is pointless,” said Shiamishis, referring to the green transition and the group’s new perspective on new technologies.

Source: Ekathimerini.com