Papastavrou: ExxonMobil to begin exploratory drilling in early 2027 in the Ionian Sea

ATHENS – Greece’s Minister of Environment and Energy, Stavros Papastavrou, confirmed on Thursday evening that the first exploratory drilling operation in Greece in nearly half a century remains on track for early 2027. The statement came after a meeting with Dr. John Ardill, vice president and global head of exploration at the American energy giant ExxonMobil.

The drilling is planned in Block 2 in the Ionian Sea, a concession ExxonMobil acquired in November 2025 with a 60% stake, while Energean holds 30% and Helleniq Energy 10%. “We confirmed that we are moving according to plan and that the target of carrying out the first exploratory drilling operation in the first months of 2027, after nearly half a century, remains unchanged,” Papastavrou said after the meeting.

The minister stressed that respecting the agreed timelines is essential and that Greece is showing it can plan methodically, move fast and act reliably, while respecting all international environmental standards. According to him, this stance strengthens the country’s credibility and the trust of major international energy groups, as eKathimerini reports.