Helleniq Energy plans to acquire 3D data for Greek offshore blocks
Helleniq Energy will start a process to acquire more advanced data for potential gas reserves in two offshore blocks in the Ionian Sea in the coming weeks, its top executive said on Thursday.
Greece has had indications of significant gas reserves of around 600 billion cubic meters and decided earlier this year to move forward with collecting seismic data via survey vessels in areas potentially carrying significant gas reserves, including two blocks off Crete.
The company has completed an accelerated 2D seismic campaign for the blocks in the Ionian Sea and was still awaiting the final interpretation, CEO Andreas Shiamishis told an analyst conference.
“But we have enough evidence to convince us to enter the 3D phase which will start in the next few weeks,” he said, after Helleniq reported a rise in third-quarter profit thanks to robust refining margins and exports.
As part of its drive to diversify its business and reach a solar and wind energy capacity of 1 gigawatt by 2026, Helleniq also said it is “in advanced negotiations” to acquire green energy projects via new acquisitions in Greece and abroad.
Excluding oil storage holdings, net profit was 381 million euros ($387 million) in the third quarter, up from 33 million euros in the same period last year.
Following the sale of a Greek asset, Helleniq has distributed a dividend of EUR 0.40 per share. It will pay an additional interim dividend of 0.25 euros per share based on nine months of financial performance, it said. [Reuters]
