Chevron Seeks 70% Stake and Operatorship in Greek Offshore Block 10
CVX•Chevron has applied to take a 70% stake and operatorship in Greece’s offshore Block 10 concession with HelleniQ Energy, pending regulatory approval. The partnership has completed two exploration phases, is considering an 18-month extension for seismic evaluations, and signed leases for four more offshore areas.
1. Chevron's Block 10 Application
Chevron has submitted an application to acquire a 70% interest in Block 10 offshore Greece alongside HelleniQ Energy and to assume operatorship, subject to regulatory approval and transfer of the operator role. HelleniQ will retain a 30% non-operating interest if the bid succeeds.
2. Exploration Progress and Extension
The consortium completed the first two exploration phases in Block 10, gathering 2D and 3D seismic data, and is evaluating an 18-month extension to finalize subsurface assessments. A decision on proceeding to the third phase involving exploratory drilling remains under review.
3. Portfolio Expansion in Eastern Mediterranean
Chevron and HelleniQ Energy have also signed leases for four additional offshore blocks south of Crete and the Peloponnese. This follows Chevron's operation of the Aphrodite gas field offshore Cyprus and reflects its growing focus on Eastern Mediterranean exploration.
