"Effectively, we are in a position where we could see a decision for an exploratory well in the next 18 to 24 months." Citing higher refining margins and exports, Helleniq on Friday reported a jump in quarterly profit. Excluding inventory holdings and a windfall tax, Helleniq's profit came in at 261 million euros ($275.4 million) in the fourth quarter, up from 92 million euros in the same quarter of 2021. ($1 = 0.9479 euros) (Reporting by Angeliki Koutantou; Editing by Louise Heavens and Jan Harvey)
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) (Adds decision on exploratory well)
ATHENS, Feb 24 (Reuters) - Greece's biggest oil refiner
Helleniq Energy could decide on exploratory drilling
in Greek offshore blocks within the next two years, its chief
executive officer said on Friday.
Greece has had indications of significant gas reserves of
around 600 billion cubic metres, and last year decided to push
ahead with collecting seismic data via survey vessels in areas
that potentially carry significant gas reserves.
Helleniq holds licences to explore for oil and gas in four
blocks in the Ionian Sea and off the island of Crete, and has
concluded seismic surveys there.
"All in all, we have a portfolio of offshore prospects which
have been... through the seismic works," CEO Andreas Shiamishis
told analysts.
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