Chevron filed to acquire a 70% stake in an oil and gas exploration block offshore southwest Greece currently 100% owned by Helleniq Energy. The acquisition would make Chevron operator of the concession and complements its existing Eastern Mediterranean leases covering about 47,000 square kilometers.
Chevron has submitted a filing to purchase a 70% working interest in a southwest Greece offshore oil and gas exploration block currently held entirely by Helleniq Energy, marking a direct acquisition rather than a farm-in.
This proposed stake adds to Chevron’s existing partnership with Helleniq Energy, which already covers four offshore blocks south of Crete and the Peloponnese totaling approximately 47,000 square kilometers.
Greece’s Minister of Energy and Environment characterized Chevron’s entry into the new block as a significant milestone in bolstering the country’s oil and gas sector and strengthening its position on the Eastern Mediterranean energy map.
Under the lease terms, the Chevron-Helleniq joint venture will execute a three-phase exploration program to assess geological prospects, with Chevron set to assume operator responsibilities upon closing.
