85744 - Transcription: War in the Middle East and Hydrocarbons in Europe

N. Lygeros
Translated from the Greek by Athina Kehagias

The first thing we ought to understand with the ignition which has occurred in the Middle East, is that things, not only do not change regarding hydrocarbons, but they are actually enhanced. As a result we see companies like Transocean which had bought out Ocean Rig, to now have their rigs in maintenance, because they are at a ready and waiting to get working, in various missions, related to the extraction of natural gas or even oil. We still have to comprehend that for our own data, especially in the Ionian and southwest of Crete, we have cases that are of great interest, not only to the people who are already in these programs, but also to the greater market. What this means practically, is that whoever wants to play in this area simply has to do it now. In what sense? As long as there is a demand, as long as there is an increase in demand, since we know that for 20-30 years, at least 40% to 50% of the required energy, by humanity, will still be within the hydrocarbon context. We ought to understand that it is a window which is big, which we have to utilize, and one way to do it is quite simply to proceed with the marine blogs which we have already declared and announce, and are in the phase of research licensing, so that we can move on to the stage of drilling and mining and utilization afterwards. It is therefore, very important for us to see that it is now happening and not only in Greece, but other companies are in this planning, which has a huge value and is of enormous importance for us, because it constitutes a way to change our geoeconomy and consequently our geopolitics, so that we become upgraded.