Greece Starts Offshore Drilling After 40 Years

Greece is taking a historic step towards evaluating its energy resources by restarting its first offshore energy exploration activities. Within the framework of the P-TEC Energy Cooperation Conference held in Athens, an agreement signed by Energean, HelleniQ Energy, and ExxonMobil covers drilling activities to be conducted in the Block 2 area of the Ionian Sea.

Greek Minister of Environment and Energy Stavros Papastavrou described this agreement as a “historic turning point.” Minister Papastavrou stated, “This agreement brings drilling activities back to our country after 40 years. If successful, this will present a significant opportunity to provide domestic energy resources not only to Greece but also to Europe.”

In recent years, Greece has taken various steps to enhance its energy independence and ensure energy security. The Greek government has adopted a strategic approach by collaborating with global energy companies to explore the rich natural gas and oil resources within its borders. In this context, the agreement is expected to assess Greece's energy potential.

The new drilling operations in the Ionian Sea are considered an important development that will strengthen the national energy strategy and may change the energy dynamics in the region. Greece aims to contribute to the European Union's energy policies with this project.

The increasing energy demand and rising energy prices in recent years have reinforced the belief that countries like Greece, which possess energy resources, need to evaluate this potential. Particularly for Europe's energy security, the development of domestic resources is of great importance. The steps taken by the Greek government will not only enhance the country's self-sufficiency in the energy sector but also allow it to gain a more visible position in the international energy market.