HHRM

HHRM will work with DNV GL, an international expert, to organize the monitoring of the existing offshore operations in Greece, as well as the training of the staff to be hired by HHRM for this purpose. The tender was carried out by the European Bank for Reconstruction and Development (“EBRD”) and was completed in late August. DNV GL a company specialized in safety issues and technical specifications of offshore operations emerged as the successful candidate. DNV GL has a large experience in offshore safety matters in Europe (comprising the Directive 2013/30/EU) and international.

HHRM representatives participated in kick off meetings in London and Athens. A team with a reservoir geologist and an energy legal advisor will participate in late September 2017 in the annual meeting of the EU Offshore Authorities Group (“EUOAG”) in Brussels.

The selection of the international expert was possible thanks to the successful cooperation between HHRM and EBRD since the end of 2016. This cooperation, besides the offshore safety matters, will envisage actions in other areas planned by the management of HHRM.

HHRM has a transitional appointment as a competent authority for offshore safety in Greece and will strongly commit to it’s obligations for the protection of health, safety and environment (“HSE”) related to the offshore operations in Greece.

Monday, 11 September 2017

GeoExPro Sept2017

Three international tenders for the areas Southwest and West of Crete and the Ionian Sea were published in the Journal of the Greek Republic the 11th of August 2017. This publication follows the expression of interest by the consortium Total-ExxonMobil-Helpe for Southwest and West of Crete and by Energean Oil and Gas for the Ionian Sea. The expected announcement by the Official Journal of the European Union will allow other interested companies to submit offers within 90 days from the date of publication of the Invitation for Submission of Offers in the Official Journal of the European Union. The offers should be submitted to HHRM.

The region of Ionian Sea and Western Greece in general is a “safe haven” in the Western parts of the Eastern Mediterranean and has the advantage of a strategic position. Further, the areas west and south of Crete, are considered “high risk-high reward” and attract today the interest of the oil and gas industry.

Three international tenders for the areas Southwest and West of Crete and the Ionian Sea were published in the Journal of the Greek Republic the 11th of August 2017. This publication follows the expression of interest by the consortium Total-ExxonMobil-Helpe for Southwest and West of Crete and by Energean Oil and Gas for the Ionian Sea. The expected announcement by the Official Journal of the European Union will allow other interested companies to submit offers within 90 days from the date of publication of the Invitation for Submission of Offers in the Official Journal of the European Union. The offers should be submitted to HHRM.

The region of Ionian Sea and Western Greece in general is a “safe haven” in the Western parts of the Eastern Mediterranean and has the advantage of a strategic position. Further, the areas west and south of Crete, are considered “high risk-high reward” and attract today the interest of the oil and gas industry.

Reprocessing of 12,500 kms of modern 2D seismic is under way since July 2017 and the first data will be available in September 2017. According to the agreement between HHRM and PGS, the objective is to complete reprocessing by June 2018. The pre-stack time migration of the fast track priority lines from South of Crete will be available in September 2017 and the pre-stack depth migration versions of these lines will be available in January 2018. Advances in wave field separation and new de-multiple processes together with the depth migration are expected to bring significant enhancements to the data.

HHRM is evaluating the acquisition of a 3D survey of up to 2,000 sq.km on the eastern slope of the carbonate platform in the northern Ionian Sea. Reprocessing of the 2D lines will increase the geological understanding of the area which will assist in the planning of a 3D survey over this area. In addition, HHRM is planning to acquire an infill 2D survey south of Crete with optimized line orientation and an infill 2D acquisition south of Peloponnese, a total up to 4,000 km. Both surveys are subject to industry prefunding.

Seismic 2017 PGS Seismic image 2013 17 PGS

Fig. 1. Map of the MC2D-GRE2012 survey in blue that served for the division of blocks during the 2014 bid round.

Fig. 2. MC2D-GRE2012_L2007 PSTM stack and reprocessed PSDM stack result.

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