Helleniq Energy: Within 2025 the decision to drill in Crete – The first “green” refinery

Within 2025 the investment decision for research drilling in the blocks of Crete, as stated yesterday (4.2.2025) the CEO of the company, Andreas Siamis, will be taken at the presentation of the Center for Excellence which he founded in collaboration with Alba Graduate Business School of the American College of Greece. Specifically, the CEO of Helleniq Energy said that the decision to drill in Crete would be made rather in the summer of 2025 rather than in the first quarter of 2025, as estimated, due to a delay in the leader of the consortium, which is ExxonMobil. “Exxon who is the leader in the consortium, having 70%, has not yet made a final decision, I do not believe it is far, but has not yet been taken,” he noted. CORVERSE According to Mr Siamis, petroleum and fossil fuels, such as natural gas, remain at the heart of Hellenicniq Energy’s investment activities. As regards the ‘A2’ block located west of the ‘South Peloponnese’ sea block, Helleniq Energy and Chevron have expressed interest and the decision is expected. According to the management of the Group, the company’s facilities in Thessaloniki will become the first “green” refinery in the region, with the “clean” electricity produced from two parks of total capacity 550 MW to be built in Kilkis. CORVERSE Investment plan of EUR 1.5-2 billion for RES Helleniq Energy invests in RES and batteries with an investment plan of 1.5 – 2 billion euros, to be implemented by 2030. At the same time, the company has 500 MW projects and has another 500 MW under construction, targeting for RES 1 GW. It is recalled that the company has two natural gas plants and will consider whether to proceed to a third unit or whether to invest in FSRU Thessaloniki. The first investments in the 100 MW autonomous storage units will be made at the end of this year.