The consortium of ExxonMobil, Energean, and HELLENiQ Energy will today sign a contract for exploratory drilling in Block 2 in the north-western Ionian Sea with Greece’s Ministry of Environment and Energy.
An initial agreement for the drilling was signed in Athens in November, coinciding with ExxonMobil’s entry into the consortium with a 60% stake. Energean now holds 30%, while HELLENiQ Energy holds the remaining 10%.
The contract will also be signed by Stena Drilling, which will start drilling in February 2027. The operation will be the first of its kind in Greece in more than 40 years.
The block is considered the most mature concession for exploratory drilling, aimed at confirming the presence of commercially exploitable hydrocarbon deposits, with a success probability estimated at 15–18%.
The exploratory well Asopos-1 will target a potential carbonate reservoir at a depth of 4,000 m and concerns a possible natural gas deposit of approximately 200bn cu m. Stena Drilling will use its 2007-built Stena DrillMAX drillship to drill the well.