Hydrocarbon exploration

It's important to note that the ExxonMobil/HELLENiQ ENERGY consortium had already conducted preliminary 3D geophysical surveys in the area in early 2024.

The government in Tripoli reportedly delivered a demarche to Greece's envoy in the Libyan capital last week, essentially 'doubling down' on its controversial and unsanctioned EEZ agreement with Turkey

Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.

Alexandra Sdoukou: Never in post-war Greece have we had so many two-dimensional and three-dimensional surveys

The Greek government, along with Egypt and the EU, expressed outrage at the time over the agreement

If the announcement materializes, it would be the first direct back-tracking by the Erdogan administration amid a recent rapprochement between Greece and Turkey