The Mars Institute’s investment in drilling to search for life stems from lessons learned in the energy sector.

“The story we think could be completely different is underground, because if you go underground on Mars several good things happen,” says Lee. “You’re protected from harmful space radiation, and temperatures rise like they do in mines - the deeper you go into a mine the warmer it gets, and the same thing happens on Mars.

“This means temperatures could rise from the frigid cold of the surface, where averages temperatures are around -63°C, to the point where you’re above freezing a few kilometres down. So water, if it’s present, would be liquid. That’s very good news because at least on Earth, life needs liquid water and everywhere with clean liquid water has life in it."

However, the surface of Mars presents challenges that cannot be solved by conventional drilling. “The main problem is the more stuff you have to take from Earth to do this, the more expensive it gets. It costs approximately $1m per kilo - $10m per kilo on Mars! So you want to be very efficient with what you take to Mars, and if you need to access the deep underground you want to come up with a drilling strategy that is as efficient and cheap as possible.”

Another problem with drilling techniques used in offshore oil and gas exploration is the need to flush cuttings. “This usually means you inject water into the drill hole to push out the mud and dirt you’ve just drilled through,” explains Lee. “On Mars you can't use water to do this flushing - it’s so cold that if you tried the water would just freeze.”

The characteristics of Mars’ surface and the logistics of space travel mean drilling operations would need a system without heavy equipment or the need for water. The plasma drill attempts to solve this dilemma by reducing an oil drill to its most minimal component - the drill bit.

“Plasma drilling involves sending a drill bit that breaks rock by vaporising it rather than crushing it,” says Lee. “It creates a huge electrical voltage at the tip of the bit, breaking the rock by lightning strike. And instead of using water to flush the rock out you use CO₂, the most readily available gas on Mars, which is injected into the surface.”

While there have been several notable gas discoveries in the East Med - including Tamar (7-10tcf) and Leviathan (18.9tcf) fields in Israel and the Aphrodite (~7tcf) and Calypso gas fields in Cyprus, as well as the more recent ones - as noted by Morris, many face challenges commercialising amid challenging access to the European gas market and geopolitical tensions.

Cyprus, for example, is currently considering export opportunities to Europe via a new LNG plant or a new gas pipeline - both of which will probably require more gas to be discovered to make the investment commercially viable.

Whereas gas found offshore Greece, which borders Albania and Bulgaria, has an easy overland route to the rest of the European market, where gas is a core part of the energy mix.

While natural gas demand in Europe is levelling off amid more renewable energy production, supply is also declining. The EU currently imports about 20% of its gas needs, mostly from Russia, and is keen to find new supplies.

“The addition of an entirely new productive gas region would be huge news for Europe,” says Professor Kostas Andriosopoulos, an academic director at ESCP Europe.

“If we take into account Greece's proximity to the Balkan markets, dominated by Russian oil and gas, new discoveries would also bear fruit when it comes to their energy independence.”

Furthermore, Greece itself would benefit through the reduction of gas imports from places like Russia and Algeria, while local consumers could enjoy lower prices, he adds.

Despite all the promise, so far, not a single well has been drilled in the west and south west of Crete - so what is holding back serious activity?

Edgar van der Meer, senior analyst at NRG Expert, says investors may still be wary of the financial stability in the Greek economy, as well as the political risks, coupled with the unknown quantity and quality of potential resources, meaning investment in the area ‘is deemed risky.’

“Greece has had a very unstable political and economic climate, which has detracted and deterred foreign investment,” he says.

Another issue is a lack of momentum from the government, say Morris.

“When blocks are awarded they need to go through a ratification process to confirm the awards but that can take up to two years; it is not a fast process and there are many environmental and permitting considerations that add to the timeline,” he explains.

HHRM, the public authority in charge of hydrocarbons resources management, could use more support for staff and money too, says Andriosopoulos.

“Another important challenge is modernising the terms offered for future contracts to reflect the realities in the market; only then will investors be interested in hydrocarbon exploration and production in Greece,” he adds.

While the Greek government has acknowledged the importance of competitiveness and investment in its offshore energy sector, especially after the decade-long economic crisis, Andriosopoulos, says: “More political will is required to support the set goal of turning the country into an energy hub and realising the energy and climate goals for 2030.”

While this technology is primarily being developed to search for life on Mars, the plasma drill also shows benefits for drilling on Earth.

“In fact, this thing would have to be demonstrated on Earth before being sent to Mars at great cost - even though we’ve reduced the mass, it would be a very expensive project to do on Mars,” says Lee.

By reducing the drill down to the bit, the plasma drill has the potential to save offshore energy companies a lot of money and resources in transporting and using heavy equipment. The plasma drill is energy-efficient, only requiring power that can be supplied from the surface relatively easily. Using electrical voltages to vaporise rock is also faster and more effective than conventional drills, which expend a lot of energy to crush rock and leave more cuttings.

Lee is optimistic about the development of the plasma drill but also has concerns that the project may struggle with funding and stakeholder interest. Zaptec, the company providing the technology for the drill, primarily works on small-scale electrical transformers and does not have a significant vested interest in space travel.

“In commercial sectors, things are usually more short-term - unless you have a product that will make a difference in your position in the market in the next five or ten years it’s usually not going to be pushed hard,” he says.

“A lot of companies use roughly the same technologies in their business because if you’re making money with something you have, why risk something new and different?

“In my opinion, this technology needs to be pushed,” Lee concludes. “Pioneering anything, having any vision for something, means that you are doing it in the face of doubt and a lack of immediacy from others. But that’s what vision is, it’s not physical - everyone thinks they’re a visionary but in fact, they’re relatively conservative with the way they approach things and do things.”

Overall, should there be a significant find offshore Greece, “the region as a whole could stand to benefit significantly,” says van der Meer.

But considering the current rate of activity, and the potential technical challenges associated with deepwater drilling, the time frame for such a discovery is likely to still be several years away.

Commenting on recent new lease agreements, Greek Energy Minister George Stathakis has said he expects to see “the extent and size of [Greece’s] deposits in two to four years.”