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StocksMediumUpdated•Originally published 15 April 2026•Updated 16 April 2026•

1 min read

ExxonMobil and Partners to Launch Deepwater Drilling Offshore Greece by 2025

Offshore oil rig with ships, oil barrels, and drilling equipment. Logos for ExxonMobil and Energean, map of Greece, and financial charts.

Key Facts

1ExxonMobil, Energean, and Helleniq plan to launch deepwater drilling offshore Greece by 2027.

about 2 months ago

Version History

Version 1about 2 months ago

What changed: The timeline for initial test drilling was moved forward from 2027 to 2025 based on statements from Energean's CEO.

ExxonMobil, in partnership with Energean and Helleniq Energy, is accelerating its deepwater exploration plans offshore Greece. Energean CEO Mathios Rigas stated that the first test drilling off western Greece could take place as early as 2025, significantly ahead of the previously anticipated 2027 window. The joint venture is specifically targeting a major hydrocarbon discovery in the offshore blocks to bolster European energy security. This strategic move aims to unlock previously inaccessible resources within the Mediterranean despite the inherent technical complexities of deepwater operations. Industry analysts view the accelerated timeline as a bullish signal for the long-term growth prospects of the involved energy giants. The project remains a focal point for regional energy diversification and supply stability.