Greece to drill Block 2 west of Corfu in February 2027 in first hydrocarbon exploration well in 40 years
Greece is set to carry out its first hydrocarbon exploration drilling in 40 years in February 2027 at Block 2 west of Corfu, targeting the Asopos 1 prospect. The gas potential is estimated at about 270 billion cubic meters—more than 40 times Greece’s annual consumption—with the well planned to reach 4,622 meters at a cost of €60–70 million. If successful, development would require roughly €5 billion in additional investment. The project marks the start of substantive domestic gas exploration but is not expected to affect global gas supply in the short term.
