Chevron Secures Greek Offshore Leases, Wins Libya’s Sirte Basin Contract
Chevron Business Development EMEA Ltd. won four offshore Greek leases with 70% operating interest across blocks south of Crete and Peloponnese to conduct 2D and 3D seismic surveys. It was also named winning bidder for Libya’s 2025 Sirte Basin Contract Area 106, enhancing its Mediterranean exploration portfolio.
1. Greek Offshore Lease Win
Chevron Business Development EMEA Ltd. secured leases for four offshore blocks in Greece, located south of Crete and in the Peloponnese, with a 70% operating interest. The initial phase includes 2D and 3D seismic surveys to evaluate hydrocarbon potential, pending ratification by the Greek Parliament.
2. Libya Sirte Basin Contract Award
The company was named winning bidder for Libya’s 2025 Bid Round Contract Area 106 in the Sirte Basin through its subsidiary, positioning Chevron for exploration in a region where it already holds Mediterranean interests. This award diversifies its portfolio and builds momentum in North African operations.
3. Strategic Implications
These combined wins bolster Chevron’s exploration pipeline in the Mediterranean, potentially unlocking new reserves and supporting long-term growth. Successful seismic data and subsequent drilling could enhance resource estimates and drive future production initiatives.