Chevron, through its subsidiaries and in partnership with HELLENiQ ENERGY, has signed lease agreements with the Hellenic Republic for exploration rights to four offshore blocks in Greece, expanding its presence in the Eastern Mediterranean.
Pictured: Chevron’s Leviathan natural gas field offshore Israel, part of the company’s growing Eastern Mediterranean portfolio as it expands exploration and development activities across the region.
The awarded blocks include South Crete 1 and South Crete 2, located south of Crete, as well as the South Peloponnese and Block A2 areas offshore the Peloponnese. Chevron will serve as operator with a 70% interest, while HELLENiQ ENERGY will hold the remaining 30%. The consortium was selected following an international licensing round launched by Greece in 2025.
Under the lease terms, the partners will undertake 2D and 3D seismic surveys during the initial exploration phase to evaluate the hydrocarbon potential of the offshore acreage. The agreements remain subject to ratification by the Greek Parliament.
The awards add to Chevron’s expanding Mediterranean portfolio, which includes producing gas assets offshore Israel, the Aphrodite gas development offshore Cyprus and exploration interests in Egypt. The company continues to pursue additional opportunities across the region as part of its broader exploration strategy.
