News of a “mammoth-size field” south of Crete becomes viral

News of a “mammoth-size field” south of Crete becomes viral

The news of the “discovery of an important field” in the Greek area and more specifically south of Crete, which became viral across Greek media, led the Hellenic Petroleum Group to issue a clarifying statement.

It notes that “although gas or oil indications or estimates are likely to exist in many areas of the world, the conclusion of whether or not commercially viable fields exist requires a series of serious work and analysis that takes time”.

“In Greece today – as is underlined – with the data we have, HELLENIC PETROLEUM Group is not yet able to comment on the existence, the size of the fields and whether they are economically viable. It should be noted that in many of the areas for which reports have been made, investigations have not even begun”.

“It is common, during various conferences or workshops, to refer to indications and estimates for the presence of hydrocarbons, to exchange views and scrutinize them; but these must be interpreted in the appropriate framework and cannot form the basis for any reports of deposits” the statement also notes.

The group also stresses that “as HELLENIC PETROLEUM Group, we believe it is very important to communicate with the relevant authorities of the country, investors and citizens based only on real data, in order to avoid premature estimates and hasty conclusions”.

Previous reports spoke, among other things, of “seismic surveys revealing evidence of a 280 billion cubic meter gas field south of Crete. If the indications are confirmed, Greece will solve its problem for the next 70 years. The Talos deposit is twice as large as “Aphrodite” in Cyprus and equal to “Tamar” in Israel”. /ibna