ExxonMobil to join Energean, HELLENiQ in offshore Greece drilling venture

ExxonMobil, Energean and HELLENiQ have signed a farm-in agreement for the Block 2 concession in the northwestern Ionian Sea, near the Italian exclusive economic zone (EEZ). Under the deal, Energean will remain operator through the exploration phase, with ExxonMobil taking over operatorship if a commercial discovery is made.

Block 2 is considered the most advanced concession in Greece in terms of drilling readiness. The consortium expects to make a final decision on exploratory drilling soon. The first well is planned for late 2026 or early 2027, pending government approvals and permit extensions to allow sufficient time for completion.

The planned operation would mark the first offshore exploratory drilling in Greece since 1981, when the Katakolo discovery well was drilled. The only offshore activity since then has been production drilling at Prinos, carried out by Energean.