By N. Lygeros
Translated from the Greek by Athena Kehagias
Submitted by: Stelios Veisakis MSc in Oil&Gas Technology.
Most of us are so accustomed to society’s misery that they don’t pay any attention to the developments and the achievements, as if it’s all a normal outcome, whereas nothing determines the result with certainty.
Consequently, all the battle regarding the Greek EEZ, which becomes utilized partially through the hydrocarbon licensing round re: marine block 2, is not described as an achievement.
We have already forgotten the tendencies of the cancellation of the tender for ideological reasons, the persistence to delay matters, which caused the departure of candidates, even though they had already bought seismic data regarding the region, the phase change for Crete, the degradation of the 20, which ended up in 3.
We overcame all these problems and marine block 2 in the Ionian sea is now the analogue of marine block 12 in Cyprus.
The proportion remains as such, in the case of the reserves Achilles and Pyrrhus and the Aphrodite reserve!
But no one in Greece is rejoicing efficiently, even though it constitutes a cycle change, since from the theoretical context we move into the actual one, and in a dynamic way at that.
In actual fact, it’s as if we only offered one marine block, as literally was the case with Cyprus some years ago.
Marine block 2 rests upon the Italian EEZ and Pyrros reserve enables us to obtain an alliance with Italy through the pooling.
Additionally the fact that we have three European companies together, ie, the Greek Petroleum, Edison and Total, strengthens our position in this field.
Now at an economic level, because we are talking more about oil reserves, rather than natural gas, as is the case in Crete, the mining allows for a direct transfer without modification.
If the quantities are conventional they would allow us to save money with the hydrocarbon imports, and if the quantities are larger then we would be able to export this oil as well, in a direct manner, since the transfer wouldn’t force us to create an appropriate station, which means that the procedure could take place by fleet.
This possibility is both practical and effective.
The achievement therefore is that despite the crisis and its consequences, we have a new perspective of at least growth, up to one of recovery, if we continue this strategic move.