According to a report published by the publication Turkey TodayTürkiye “ready to invest billions of dollars in Libya's offshore fields to tap into its huge natural gas reserveswhich happen to be south of Crete, especially in the southwest of the island, where Greece is also preparing to drill.
The report states that Ahmed TurkogluCEO of Turkish Oil Company TPAO, got the green light from the government R. T. Erdogan for drilling south of Crete, as well as for exploration 6 miles from Rhodes, Karpathos and Crete. Turkoglu explains in the report that “Türkiye and Libya will benefit from this, since Libya does not currently have the capacity to conduct such research.”!
What does it mean? This could mean we're getting closer to what the government is trying to avoid. Mitsotakis using historically wrong strategy to pacify the conflict.
Türkiye seeks to use its naval superiority to protect research vessels that will conduct research in areas of Greek jurisdiction. The next 24 months are expected to be particularly busy…
الدولارات في الحقول البحرية الليبية https://t.co/QDZPlN7M3Q
— صحيفة المرصد الليبية (@ObservatoryLY) January 20, 2025
How soon will the General Secretariat of Mineral Resources and Petroleum issue licenses for exploration in these areas, and when will Türkiye send first a seismic survey vessel and then a drilling rig to the area? No later than within the next six months.
Greek exploration efforts are now concentrated in the “areas” (offshore blocks) south and west of Crete licensed for exploration by the Greek side.
The problem with these two “sections” is that the southern one is disputed on the southeastern edge by Ankara, which claims that the Turkish continental shelf continues in a straight line and reaches Libya.
The Libyan Ministry of Foreign Affairs has already sent a note of protest to the Greek Ministry of Foreign Affairs, expressing dissatisfaction with the activities to search for hydrocarbon deposits south and southwest of Crete. Athens news earlier We warned that this could happen, and now, unfortunately, we are being confirmed…
The offshore area south of Crete is said to contain an undeveloped 3.5 trillion cubic meters of natural gas, which could bring €302 billion to Greece over 25 years. South of Crete there are 3-4 offshore areas that are worth exploring for hydrocarbons due to the large volumes they may contain: 1) southwest of Gavdos, 2) in the Rethymno area (Frangokastello-Plakia), 3) in the gulf Mesara, 4) southeast of Ierapetra – Herodotus basin.
South of Crete, around mud volcanoes, there are hydrocarbon reserves, mainly natural gas, of about 1.5 trillion cubic meters, comparable to what was found in the Nile Delta, Caspian Sea (field Shah Deniz), Norway and other places.
Southeast of Crete is the Herodotus Basin. The Greek part of the basin has potential reserves of about 2 trillion cubic meters, comparable to natural gas discoveries in the Nile Delta (the company Shell, B.P.), a recent study OMV and forecasts of potential natural gas reserves in the Cypriot part of the Herodotus Basin, which is adjacent to the Greek part of the basin.
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