Didn’t find it? TotalEnergies announces exit from two hydrocarbon blocks

French company TotalEnergies (of the Total group) on Thursday announced its decision to abandon two exploration blocks it had been searching for hydrocarbons near Crete after completing exploration in those areas.

The company said in a statement that they have informed the Greek authorities and their partners of the decision. According to the announcement, TotalEnergies remains committed to the development of renewable energy in Greece and will continue to operate in the country through TotalEnergies’ local subsidiary Marketing Hellas.

The French company TotalEnergies participated in a consortium with ExxonMobil and Hellenic Petroleum to explore hydrocarbon reserves in specific blocks.

Purple: concessions dark purple: open to investors

As we reported earlier, Greece has decided to gradually refusal of Russian gas and plans to start developing its own hydrocarbon reserves. 14 April Prime Minister Kyriakos Mitsotakis declared at the meeting that for the accelerated process of hydrocarbon exploration selected one land area and five sea areaswhere concessions for hydrocarbon exploration have already been granted in the past. Mitsotakis did it statement during a meeting at Hellenic Hydrocarbon Resources Management.

Six sites, one of which is located in the northwest of the mainland, and five – on the shelf northwest of the island of Corfu, in the Ionian Sea, in the Gulf of Kyparissia, Western Peloponnese, in the sea west and southwest of Crete, and in the regional unit of Ioannina (Epirus).

Near Crete, the exploration consortium consists of Total, ExxonMobil and Hellenic Petroleum, while near Corfu, the Energean-Hellenic Petroleum, Hellenic Petroleum (HELPE) consortium in the Gulf of Kyparissia and Energean in Ioannina operate.

According to the Prime Minister, a special task force will be responsible for accelerating the country’s efforts to explore and develop potential oil and gas reserves. He added that the government is “optimistic” and stressed: “If we have significant reserves, we will replace imports with our own national wealth.” The Prime Minister also said that “in addition to a country that can store (liquefied) gas, Greece can also be a country that produces natural gas.”

The departure of one of the key investors is indicative. While Greece will resolve rather controversial issues with its production, premier PR terminal liquefied natural gas (LNG) on the island of Revitus, where Greece receives very expensive LNG from the United States and, at times, from Qatar.

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