Energy Window International (Media) – Chevron Corporation (NYSE: CVX), through its Dutch subsidiaries, not excluding HELLENiQ ENERGY said they have signed Lease Agreements with the Hellenic Republic aimed at preparing them as they set out in their intended exploration of four blocks offshore Greece.
It said the blocks are located south of Crete (South Crete 1, South Crete 2) and within the Peloponnese (South of Peloponnese, and Block A2) with Chevron to hold a 70% operating interest and HELLENiQ ENERGY a 30% interest, and selection which came following an international call for tender the Greek government launched in 2025.
Kevin Mclachlan, Vice President of Exploration at Chevron said: “This is another important milestone for Chevron as we continue building momentum in the Mediterranean region, an area where we already have a significant position and are actively pursuing exploration opportunities to further strengthen and expand our portfolio.”
“We look forward to working with our partners HELLENiQ ENERGY and the Hellenic Republic to evaluate the hydrocarbon potential of these frontier areas. With our expertise in developing oil and gas projects worldwide, Chevron has the resources, experience, and technology to advance and unlock new energy supplies in this frontier region.”
Report had shown that under the terms of the Lease Agreements, the consortium would complete 2D and 3D seismic exploration work programs in phase one of the leases, in order to assess the hydrocarbon potential of the areas.
However the lease agreements will, accordingly, wait for ratification by the Greek Parliament.
Chevron said its assets in the Mediterranean region include two gas producing fields (offshore Israel), and the Aphrodite gas field which it also said is currently in development (offshore Cyprus). In Egypt, The US major further disclosed its operatorship of two Egyptian exploration blocks, coupled with and one non-operated joint venture in the Mediterranean Sea.
According to the company, on February 11, 2026, it became the winning bidder for onshore block S4 in Libya, which according to the company came from entering into a Memorandum of Understanding (MoU) with the aim of evaluating the exploration potential onshore Libya. The company also said that in February, it equally got awards of MoUs with Turkey and Syria for similar evaluations.
Chevron mentioned its Dutch subsidiaries to include, (“Chevron Greece Holdings (A2) B.V”, “Chevron Greece Holdings (S Peloponnese) B.V.”, “Chevron Greece Holdings (S Crete 1) B.V.” and “Chevron Greece Holdings (S Crete 2) B.V.”).