Strong Evidence of Hydrocarbon Systems in Peloponnese, Crete

Strong Evidence of Hydrocarbon Systems in Peloponnese, Crete

Although the data from seismic research is still being processed, there is strong evidence of hydrocarbon systems in western Peloponnese, the Athens News Agency-Macedonian Press Agency reported, quoting PGS, the Norwegian company which completed a series of seismic research in the Ionian Sea and the sea region south of Crete.
There are “various geological characteristics of the Greek underground and a variety of possible oil potential”, PGS said.
The oil field found in Katakolo in 1981 is proof of a hydrocarbon system in western Peloponnese, it noted, adding that the south region of Crete remains largely unexplored.
Processing of seismic research data was expected to be completed in early 2014.
Under the plan, Greek authorities will launch a series of international tenders for the accession of certain regions to oil companies for hydrocarbon exploration.

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