A new milestone is approaching for Greece’s hydrocarbon sector and the country’s broader effort to explore and develop its natural resources.
According to sources, senior executives from U.S. energy giant Chevron are expected in Athens by February 20 to sign concession agreements with the Greek state for the exploration and exploitation of hydrocarbons in four offshore blocks the company secured through an international tender.
The areas include the “South Peloponnese,” “Block A2,” “South of Crete I,” and “South of Crete II.”
Energy and Environment Minister Stavros Papastavrou is expected to represent the government at a special event jointly organized with the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA). Following the signing, the agreements will be submitted to Parliament for ratification.
The government’s goal, as previously announced by Papastavrou, is for Chevron to begin seismic survey procedures in the Peloponnese and Crete offshore areas by late 2026 or early 2027.
For the exploration of the four offshore concessions, Chevron will partner with HELLENiQ ENERGY.
Beyond the potential economic benefits should commercially viable hydrocarbon deposits be discovered, Chevron’s entry into Greece also carries broader geopolitical significance, reinforcing the country’s strategic role in the Eastern Mediterranean — a region of heightened geopolitical sensitivity.
