Seismic data to be made available to oil companies

Norwegian company Petroleum Geo-Services (PGS) has provided the Development and Energy Ministry in Athens with all the data from its seismic surveys across the Ionian and the sea area south of Crete, giving Greece a complete database for an area of 30,000 square kilometers.

Titled “Greece MegaProject,” the database is now state property, adheres to the latest standards of the international oil industry and, as the ministry announced on Wednesday, will be made available to oil companies within February.

Next week the data will be presented at the biggest oil conference in the world in Houston, Texas, where 17,000 delegates representing over 1,000 companies will be in attendance.

The data collected will be fully assessed in the next three months and in May the seabed blocks will be drawn up ahead of their concession, so that in June the tenders for their exploration can begin.

An initial assessment of the data points to interesting geological structures that are similar to those in neighboring countries such as Albania and Italy.

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