The contract for the exploratory drilling for hydrocarbons in “block 2”, in the Northwestern Ionian Sea, will be signed tomorrow, Wednesday, at the Ministry of Environment and Energy.

This is a substantial step towards the realization of the drilling, which is scheduled for February 2027 and will be the first in more than 40 years in Greece.

The contract will be signed between the ExxonMobil – Energean – HELLENiQ Energy consortium, which has exploration rights in the area, and Stena Drilling, in the presence of Environment and Energy Minister Stavros Papastavrou and the ambassadors of the United States, Kimberly Guilfoyle and Sweden, Hakan Emsgard. This will be followed by a presentation of the Drilling Program by the consortium.

It is recalled that the agreement in principle to drill an exploratory well was signed in November in Athens at the same time as the entry of US ExxonMobil into the exploratory consortium with a 60 % stake (Energean retains a 30 % stake, up from 75 % previously and HelleniQ Energy 10 %, up from 25 % previously).

According to the information that has become available, Block 2 is the most mature concession for exploratory drilling in order to establish the existence of an exploitable hydrocarbon deposit with a 15-18% chance of success. The Asopos-1 exploratory well will test a potential carbonate rock reservoir at a depth of 4000 m and will test a potential reservoir of approximately 200 billion cubic metres (bcm) of natural gas.

Following are technical specifications for the Stena DrillMAX floating drill rig:

The Stena DrillMAX is a 6th generation drillship, built in 2007 by Samsung Heavy Industries and operated by Stena Drilling. It is part of the DrillMAX series, a group of high-end vessels designed to push the boundaries of offshore drilling.

One of the key features of the Stena DrillMAX is its ability to operate in shallow water. It is designed to operate in water depths of up to 10,000 feet (3,000 meters) and drill to depths of up to 35,000 feet (over 10 kilometers) allowing access to deposits once considered inaccessible.

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* Dynamic Positioning (DP3): uses computer-controlled propellers to maintain position without anchoring.

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* Activity folding system: Allows simultaneous drilling operations, reducing time and cost, a function known as dual-activity drilling.

* BOP: A safety system that controls the pressure and seals the well in an emergency, preventing uncontrolled oil or gas spills. In the context of increased environmental awareness and adherence to stricter regulations, such technologies are essential.

These features make the ship capable of operating continuously and safely in difficult conditions.

Length: 228 metres, width: 42 metres, capacity: about 97.

It also features large fuel and equipment bunkers, allowing for long-term missions without refueling. It includes power generation systems, heavy cranes, specialized drilling equipment and environmental protection barriers.

The Stena DrillMAX is the first drilling rig to receive the DNV “Abate (P)” certification for emission reduction and energy efficiency improvements.