Exxon Mobil Eyes Offshore Greece for Natural Gas Future

Exxon Mobil plans to extract natural gas from its new offshore Greece project by the early 2030s. Partnering with Energean and Helleniq Energy, the venture will require investments ranging between $50 million and $100 million, as confirmed by John Ardill, Exxon Mobil's head of global exploration.

Exxon Mobil is targeting the early 2030s for the extraction of natural gas from its newly announced offshore project in Greece. The ambitious initiative, a collaboration with Energean and Helleniq Energy, is set to significantly boost the region's energy sector.

In a statement to Reuters, John Ardill, head of global exploration at Exxon Mobil, emphasized the project's success hinges on favorable conditions in the coming years. The project stands as a crucial development in the company's strategic expansion in the Mediterranean region.

Ardill disclosed that the investment for this initiative will range between $50 million and $100 million. This venture exemplifies the global shifts towards expanding energy resources, reinforcing Exxon Mobil's pivotal role in the evolving energy landscape.

(With inputs from agencies.)