Greece on the brink of a new energy breakthrough: deepwater drilling with the potential for billions of cubic meters of gas

On April 15, 2026, in Athens, the CEO of Energean, Mathios Rigas, announced plans for deepwater natural gas drilling in the Ionian Sea off western Greece, expected to begin in February 2027. The project, carried out in partnership with ExxonMobil and Helleniq Energy, will focus on a block covering approximately 1,000 sq km—marking the country’s first such deepwater drilling activity in nearly 40 years. The target structure, “Asopos,” is estimated to hold potential resources of 6–7 trillion cubic feet, although the probability of success for the initial well is around 16%. In the event of a discovery, plans предусматрират the development of floating offshore infrastructure to enable gas production and transportation to Greece and Italy. Rigas emphasized that despite the risks, the potential is significant, particularly given Greece’s limited domestic energy production.

 

Read more here:   https://www.reuters.com/business/energy/energean-hopes-major-discovery-off-western-greece-says-ceo-2026-04-15

 

Source:   reuters.com