Port role in Block 2 drilling campaign
The Greek port of Igoumenitsa has been selected as the logistics base for planned exploration drilling in offshore Block 2 in the Ionian Sea. The selection is intended to support Greece’s move toward its first offshore natural-gas exploration well in several years. Igoumenitsa was chosen due to its proximity to the northwestern Ionian exploration area.
Compared with Patra, the port offers shorter routes for transporting personnel, equipment and supplies. This is expected to reduce mobilisation time and operating costs during the drilling campaign. The port is set to serve as the central onshore support location for offshore operations.
As an onshore hub, Igoumenitsa will provide equipment storage, material handling, technical services and workforce coordination. The decision is expected to give Igoumenitsa a potentially larger role in Greece’s upstream energy sector. This would be particularly relevant if the initial drilling campaign results in further exploration activity.
Environmental review, timing and licence ownership
The consortium is expected to submit an Environmental Impact Study, enabling the remaining regulatory process to continue. Subject to permits and final approvals, drilling of the first exploration well is scheduled to begin in February 2027. The licence is operated by ExxonMobil.
ExxonMobil increased its participation after acquiring a 60% interest in late 2025. Energean holds 30%, while Helleniq Upstream controls the remaining 10%. Block 2 is described as one of the most advanced offshore exploration licences in Greece.
Exploration objectives and regional gas context
The first well is expected to provide geological data on the hydrocarbon potential of the northwestern Ionian Sea. The results are also expected to influence future capital allocation across other Greek offshore acreage. The campaign is positioned within a broader strategic context for Greece’s gas market role.
Greece has expanded its role as an LNG and regional gas-transit market, while commercial domestic production would create a different supply profile. That shift could reduce part of the country’s long-term import exposure. The investment case remains dependent on drilling results, development costs, permitting and the future role of natural gas in the European energy system.
