The Greek government is attributing geopolitical significance to Papastavrou's visit, aiming to capitalize on Chevron and ExxonMobil's activities to strengthen the strategic alliance with the United States.

Last week, Papastavrou signed the acceptance of interest for the two Cretan blocks, while similar decisions regarding the two Ionian Sea blocks were signed by his predecessor.

This step marks a significant development in Greece’s ongoing efforts to tap into its underexplored energy reserves.

Chevron has formally expressed interest in the offshore area "South of the Peloponnese" and, as of March 26, also for blocks "South of Crete I" and "South of Crete II."

Multinational expresses interest in hydrocarbon exploration in two blocks due south of the large island of Crete

This development follows Chevron’s recent interest in an offshore area south of the Peloponnese, a move that was reaffirmed today and has already been approved by the ministry.

Chevron and HELLENiQ ENERGY have already shown interest

Ot.gr: Hydrocarbon exploration, exploitation tender will be unveiled upon publication in government gazette; Reports cite Chevron interest

"It is possible that within the year, we will see the first exploratory drilling, most likely in the Crete region, which will give us an initial picture of potential hydrocarbon deposits," Sdoukou emphasized.

In a briefing with analysts, Helleniq Energy CEO Andreas Shiamishis said the refinery and energy group will finalize the end of its partnership with Edison

It's important to note that the ExxonMobil/HELLENiQ ENERGY consortium had already conducted preliminary 3D geophysical surveys in the area in early 2024.

The government in Tripoli reportedly delivered a demarche to Greece's envoy in the Libyan capital last week, essentially 'doubling down' on its controversial and unsanctioned EEZ agreement with Turkey

Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.

Alexandra Sdoukou: Never in post-war Greece have we had so many two-dimensional and three-dimensional surveys

The Greek government, along with Egypt and the EU, expressed outrage at the time over the agreement

If the announcement materializes, it would be the first direct back-tracking by the Erdogan administration amid a recent rapprochement between Greece and Turkey