Chevron Awarded Offshore Leases for Greece Exploration Blocks

16 Feb Chevron Awarded Offshore Leases for Greece Exploration Blocks

(Oilandgaspress) -] Chevron Corporation , via its four Dutch subsidiaries, together with HELLENiQ ENERGY has today signed Lease Agreements with the Hellenic Republic which will enable exploration of four blocks offshore Greece.

The blocks are located south of Crete (South Crete 1, South Crete 2) and within the Peloponnese (South of Peloponnese, and Block A2). The awarded consortium, in which Chevron holds a 70% operating interest and HELLENiQ ENERGY a 30% interest, was selected following an international call for tender launched by the Greek government in 2025.

“This is another important milestone for Chevron as we continue building momentum in the Mediterranean region, an area where we already have a significant position and are actively pursuing exploration opportunities to further strengthen and expand our portfolio,” said Kevin McLachlan, Vice President of Exploration at Chevron.

“We look forward to working with our partners HELLENiQ ENERGY and the Hellenic Republic to evaluate the hydrocarbon potential of these frontier areas. With our expertise in developing oil and gas projects worldwide, Chevron has the resources, experience, and technology to advance and unlock new energy supplies in this frontier region.”

Under the terms of the Lease Agreements, the consortium will complete 2D and 3D seismic exploration work programs in phase one of the leases, to assess the hydrocarbon potential of the areas.

The Lease Agreements are now subject to ratification by the Greek Parliament.

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