Chevron to Conduct Hydrocarbon Exploration on the Greek Shelf
Dutch subsidiaries of the American company Chevron and the Greek company HELLENiQ ENERGY have signed lease agreements with the Greek authorities for offshore blocks on the continental shelf for hydrocarbon exploration. This was reported by the press service of Chevron.
The agreements предусматривают exploration on the blocks “South Crete 1” and “South Crete 2” (south of the island of Crete), as well as “South Peloponnese” and “Block A2” in waters adjacent to the Peloponnese peninsula.
The consortium, in which Chevron holds 70% and HELLENiQ ENERGY holds 30%, won the international tender announced by the Greek government in 2025. In accordance with the lease terms, at the initial stage the consortium will carry out 2D and 3D seismic survey programs to assess the resource potential of these areas. The agreements reached must be ratified by the Greek Parliament.
Chevron’s Vice President for Exploration, K. McLachlan, stated that the company continues to accelerate its development in the Mediterranean region. He noted that the corporation already holds significant positions there and is actively seeking new exploration opportunities to strengthen and expand its portfolio.
At present, Chevron’s assets in the Mediterranean include two operating offshore gas production projects in Israel, as well as the Aphrodite gas field under development offshore Cyprus. In Egypt, the company acts as operator of two exploration blocks and participates in a joint venture operating in the Mediterranean Sea.
In recent years, Greece has intensified efforts to discover its own natural gas and oil fields, aiming to reduce dependence on imported supplies. The Mediterranean basin, where a number of major discoveries have been made in recent decades, is viewed by Athens as one of the most promising regions for geological exploration.
