ECONOMY

Ionian Sea hydrocarbon survey comes to an end

Ionian Sea hydrocarbon survey comes to an end

A geophysical survey carried out in the northern part of the Ionian Sea to assess natural gas reserves has concluded successfully, the Hellenic Hydrocarbon Resources Management (HHRM) company announced on Tuesday. 

This was the second such survey carried out by the international geophysical marine seismic acquisition and processing company Shearwater, on behalf of Hellenic Petroleum. 

It followed from the first survey that was concluded in the southern Ionian Sea in early February. 

The next step in the process is to analyze and evaluate the data, HHRM said. 

“Prior studies by Greek and international analysts have indicated that Greece’s natural gas reserves could represent upwards of 250 billion euros in value, with the potential to support a coal-to-gas switch in the wider region and financially accelerate the transition to a more sustainable low-carbon energy system,” it said.