High speed is the basic issue now in investigations hydrocarbonso as not to repeat bureaucratic delays of the past.
As our country today has the practical investment interest in hydrocarbon exploration of the second largest oil, Chevron, after ExxonMobil, the burden shifts to the government itself and the EDEPEP manager.
The Ministerial Decision will officially accept the interest. Next, the exact boundaries of the plots will be geographically defined and the model of the contract will be selected by the state with the oil, based on the experience of previous concessions.
Subsequently, the ministry is in favor of holding a single competition instead of two, on the new plots requested by Chevron south of Crete, as well as the A2 plot in the Ionian Sea where Helleniq Energy has expressed interest. The first signals on the part of the RIS are that there is every will to initiate the procedures quickly so that the tender for the new plots is completed this year.
If the competition is completed smoothly, then Chevron will receive the baton, which will decide how and in what actions it will take. The company may choose to conduct additional seismic surveys to obtain the optimal image of possible goals in the subsoil. The duration of these surveys will probably be short, close to one year, followed by a few months to process and evaluate the data to be collected.
Next, follows the critical investment decision on whether research drilling will be made, which will permanently disclose whether and which outstanding quantities are available on these plots. Only then will we be able to talk about ‘bills. euro “and” barrels of equivalent oil “or” cubic meters of gas “. Any other estimate is completely early and inappropriate at this stage.
Naturally, the exact timetable will be drawn up in due time, but the optimal scenario would be to have the first drilling over the next three years. However, more realistic based on “Greek speeds”, it would be to see them in the late decade.
Regarding the possible benefit for the Greek economy and citizens, the following should be emphasized: profits will not be as much as to lower gas prices for the domestic market.
On the contrary, the state will receive a specific share of sales as rights, which in earlier contracts was set at over 20%. The state will probably follow the example of states, such as Norway, with the establishment of a fund, which will take advantage of money for public benefit and long -term goals. Such are the support of insurance, education or whatever the government chooses to include.
By extension, if the whole project succeeds, we are talking about a steady and long -term impulse of the economy, but indirectly by saving public spending.