(Reuters) – U.S. oil major Chevron has submitted a bid in partnership with Helleniq Energy to explore for natural gas across four offshore blocks in Greece, Energy Minister Stavros Papastavrou confirmed Wednesday.
The tender, launched earlier this year, includes deepwater acreage off the Peloponnese peninsula and the island of Crete. The consortium’s bid was filed ahead of Wednesday’s deadline.
According to Reuters, a Chevron spokesperson said the company sees the Eastern Mediterranean as a key growth region: “Chevron has a large and important position in the Eastern Mediterranean, a region which is very much a part of our future and a priority for us.”
Greece, which currently produces only small volumes of oil, is working to expand domestic natural gas resources to reduce reliance on imports. While renewables have increased in recent years, gas remains critical to the country’s power generation mix. The exploration push also aligns with the European Union’s strategy to diversify supply and reduce dependence on Russian energy following the invasion of Ukraine.
Major gas discoveries off Egypt in recent years have raised expectations that Greek waters could also hold significant reserves. The Cretan blocks lie adjacent to acreage licensed to an ExxonMobil-led consortium, which is conducting seismic surveys before making drilling decisions.
If awarded, Chevron’s participation would strengthen its position in the region’s evolving offshore gas exploration sector while supporting Greece’s long-term energy security goals.
