The Greek Hydrocarbons Management Company (EDEY), the company designated by the Greek government to research oil and gas exploration, is to begin a new round of searches for possible subterraneous, sources of fuel reserves, as indicated by the seismic surveys carried out previously by the Norwegian company PGS.
As a now mature organisation, it’s President explained that errors and omissions of the past led to lack of interest in previous tenders for this stage of the process and they now believe that they will soon be able to offer data for new, important investment opportunities.
The discovery of the Zor field in Egyptian waters, has re-enforced belief that substantial veins in the wider Eastern Mediterranean are in fact viable, and interest from big companies, is growing.
Marketing the data now available to the EDEY, will be a speedy way to encourage interest within the next 6-12 months, with the region south of Crete being a the top of the list, as well as an area near Corfu, which will be put forward for exploitation.
Finally and also on the radar of EDEYA is an area between Crete and the Peloponnese, south of Kythira. In this target area new testing will be carried out in the form of three-dimensional seismic recordings as there are indications, from previous research, that have aroused the interest of scientists.