Signatures for the lease of Stena Drilling‘s drillship are expected to be “signed” in April, marking the acceleration of procedures for the first exploratory drill in Block 2, in the northwestern Ionian Sea. At the same time, surveys from the Echo One vessel have already started for the preparation of the baseline environmental study, which is a critical prerequisite for the start of drilling.

The property is managed by a consortium consisting of ExxonMobil, Energean and HelleniQ Energy, who are coordinating the next steps for the implementation of the exploration program.

As Environment and Energy Minister Stavros Papastavrou said in an interview with OPEN TV, the aim is for the exploratory drilling to take place in February 2027, marking the transition from the exploration phase to the phase of on-site confirmation of potential deposits.

The minister stressed that the juncture is particularly critical, with energy now a key pillar of national security. As he noted, all countries are pursuing energy self-sufficiency and diversification of sources to reduce their dependence and enhance their resilience against geopolitical crises.