ExxonMobil & HELLEniQ ENERGY JV Completes First Exploration Phase In Crete, Eyes Next Steps

Exxon Mobil Corporation (NYSE:XOM), along with its joint venture partner HELLEniQ ENERGY, has completed the first exploration phase at the offshore block “Southwest of Crete.”  

The Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) disclosed that the joint venture has also decided to officially proceed with the second exploration phase.

The initial phase involved collecting 3,250 km of 2D seismic data and conducting geochemical analyses. The latter stage will span three years and focus on 3D seismic data collection and assessment.

Notably, in first-quarter 2024, ExxonMobil and HELLEniQ ENERGY, ...