The exploration of hydrocarbons and their geopolitical significance

Greece has the opportunity to take advantage of Libya’s tender for three offshore blocks at the median line with Greece. It must declare to the UN that the Turkish-Libyan memorandum is a commercial agreement disguised as an international sovereignty pact and move quickly to complete the tenders for the areas south of Crete, which have remained inactive since 2019.

The completion of tenders for offshore exploration south of Crete is crucial. These areas hold potential hydrocarbon reserves that could reduce Greece’s dependence on imported energy. If Greece accelerates the tendering process, it can attract major international energy companies, fostering investment and technological advancements in offshore drilling.

NAFTEMPORIKI TV - March 28, 2025