Yesterday’s (10.9.2025) deposit of the official offer by companies’ partnership Chevron (the largest private oil company in the world) and HELLENiQ Energy For marine areas south of the Peloponnese and Crete, it is a great national success with energy, economic and geopolitical benefits, sources from the Ministry of Environment and Energy are pointing out.
Prime Minister Kyriakos Mitsotakis also spoke about Chevron’s joint venture with Helleniq Energy, saying that “it is the best proof of the way our government perceives the country’s geopolitical position”. In addition, he stressed that Greece is now turning into an important energy player in the Eastern Mediterranean.
The sources of the RIS report on this development:
- It is a vote of confidence in the government of Kyriakos Mitsotakis and in our country, and proof of the attractiveness of the exploration and production of hydrocarbons
- Proves that Greece-US Relations, under Prime Minister Mitsotakis and the presidency of Trump, are at the best of ever than ever
- It is a methodical, serious and reliable national effort
- It marks the entry into the Greek market of a company with top know -how in Deepwater Projects worldwide, economical power and long -term experience in the Eastern Mediterranean
- It is likely to lead to the exploitation of underwater wealth, which will make Greece a producer and export country, instead of a importer or transit gas.
“Greece, coming out of the international markets with four new areas for concession, the areas” Block A2 “,” South of the Peloponnese “,” South of Crete 1 “and” South of Crete 2 “, with a total area of 47,000 square kilometers, essentially doubles the area. Adding new areas to explore increases the chances of identifying new goals and performing more drilling, “they say and add:
- With the ratification of the agreement, the contractor will receive a three -year -old initial hydrocarbon exploration license in order to conduct exclusive research surveys that will allow her to identify drilling targets. Chevron’s presence in Greece, along with that of ExxonMobil since 2019, which has been in the process of examining the decision to bore, enhance the country’s attractiveness as a destination for international energy investment.
- The intensification of American oil interest, including in the southern Cretan sea, does not only provide Greece only potential economic and development benefits. It produces immediate geopolitical results, operating, given the US government’s parallel interest, as a diplomatic deterrence of the practical challenge of Greek sovereign rights, as they are officially reflected in the area based on the map of the marine spatial planning.
- The situation is particularly important and geopolitically critical, as our country proves that it is unhindered its sovereign rights in a widespread maritime area under the international law of the sea, despite the constant disputes of Turkey and its allies in Libya. At the same time, a message is transferred to Libya, where Chevron is already present, that the structured dialogue on the basis of the principles of good neighborhood and international law is the only way to consolidate peace and stability in our troubled region.
- It is no coincidence that, with the successful completion of the competition, US Interior Minister and head of the US National Energy Council, Doug Burgum, who, all this time, was in constant contact with the Greek Minister of Environment and Energy, Stavros Papastavrou, visited our first country.
The timetable of the surveys and the next steps are as follows:
- 26/3/2025: Chevron expresses its interest in research on two more marine plots extending south of Crete.
- 31/3/2025: The Minister of Environment and Energy, Stavros Papastavrou, has a telephone contact with the Minister of the Interior and President of the US National Energy Council, Doug Burgum. Particular emphasis was placed on the acceptance by the Greek government, Chevron’s interest in maritime plots.
- 4/4/2025: The Minister is signed by the Minister the decision to accept the expression of interest in the maritime areas “Southern Crete 1” and “Southern Crete 2”.
- 11/4/2025: Ministerial Decision on the appointment of expensive coordinates, where the right to investigate and exploit hydrocarbons, as well as to select the type of contract as a “lease”.
- 30/4/2025: Following the 3rd Ministerial Decision, which concerns the notice of the international competition.
- 7/5/2025: Mr. Papastavrou visits Texas, in the US, accompanied by Deputy Minister Nikos Tsafos. In this context, he visited Chevron’s premises, Ceniere Energy offices, and ExxonMobil headquarters.
- 11/6/2025: The international competition in the European newspaper is published.
- Upon completion of the competition, the tender is evaluated by the EDEEP Committee. There will be a negotiation with the candidate to finalize lease contracts. Subsequently, the final lease contracts will be submitted to the Court of Auditors for pre -contractual audit this year to submit to the Greek Parliament for ratification.