The exact geographical boundaries of the two offshore land south of Crete for investigations hydrocarbon Chevrondetermines the Ministerial Decision of the RIS published yesterday in Government Gazette.
Thus, the ministry is taking another step towards conducting the international competition, which is scheduled to be completed in 2025. It is worth noting that Chevron has expressed interest in a zone south of the Peloponnese and both in particular plots south of Crete, to conduct investigations.
As stated in the Ministry’s decision, it is decided to “lease” in the maritime areas “south of Crete 1” and “south of Crete 2”, as a way of exercising the granting of the State’s right to investigate and exploit hydrocarbons.
The two plots are depicted as follows in the Ministerial Decision:
This is the second major American oil entry to our country after ExxonMobil, who together with Helleniq Energy has undertaken the investigations west and southwest of Crete.
The areas of Exxon-Hlleniq and Chevron in the Peloponnese area are the following:
Now, the next step for Chevron’s investigations is to publish the competition in the EU newspaper, which is expected to take place by the end of April based on the statements of the RIS leadership. The official expression of interest will be followed by the end of August, and then the Greek Parliament will ratify the contracts.
Finally, it is worth mentioning that besides Greece, Chevron already has a significant presence in the Eastern Mediterranean. In Cyprus it has the rights to the Aphrodite deposit together with Shell and NewMedeNergy. He recently announced that he was launching the seabed investigations on the underwater pipeline that would join the deposit with Egypt to extract natural gas.
At the same time, in Israel, Chevron holds 39.6% of the Leviathan deposit and 25% of Tamar. Similarly, he is involved in the Egyptian EEZ and specifically in the Herodotus Basin, which he considers promising for future discoveries.