Chevron Completes Entry Into Greek Offshore Block as Athens Cements Role as Regional Energy Hub

Chevron has completed all regulatory procedures to enter Block 10 in the Gulf of Kyparissia off the western Peloponnese, Environment and Energy Minister Stavros Papastavrou has announced, marking the U.S. energy major's expansion into a fifth offshore concession in Greece.

A Chevron delegation arrived in

Mr. Papastavrou and Hellenic Hydrocarbons and Energy Resources Management Company chief executive Aristofanis Stefatos confirmed that the regulatory process was now fully complete.

"Chevron's participation, as one of the largest energy companies worldwide, represents another important step towards the responsible utilization of our national resources," Mr. Papastavrou said.

Chevron and Helleniq Energy already hold joint agreements across four other offshore areas south of Crete and the Peloponnese.

The exploration program has completed early phases including geological, geophysical and environmental studies.

The consortium will now evaluate whether to advance to a third phase that could include exploratory drilling.

U.S. Ambassador to Greece Kimberly Guilfoyle said the partnership "deepens and strengthens the region's energy architecture" and positions Greece as "a dynamic regional energy hub" — language that underscores Washington's strategic interest in developing eastern Mediterranean energy routes as an alternative to Russian supply chains.

Chevron Director of Exploration for North Africa, the Mediterranean and the Middle East Andrew Deighan called the deal "another important milestone" in expanding the company's global exploration portfolio.

Helleniq Energy chief executive Andreas Siamisis said the joint expansion "creates a much larger exploration area" enabling synergies from exploration through to potential development.

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Chevron has completed all regulatory procedures to enter Block 10 in the Gulf of Kyparissia off the western Peloponnese, Environment and Energy Minister Stavros Papastavrou has announced, marking the U.S. energy major's expansion into a fifth offshore concession in Greece.

A Chevron delegation arrived in Athens on Monday to finalize the agreement, under which Helleniq Energy has transferred a 70% operating stake in Block 10 to Chevron following a joint participation request.

Mr. Papastavrou and Hellenic Hydrocarbons and Energy Resources Management Company chief executive Aristofanis Stefatos confirmed that the regulatory process was now fully complete.

"Chevron's participation, as one of the largest energy companies worldwide, represents another important step towards the responsible utilization of our national resources," Mr. Papastavrou said.

Chevron and Helleniq Energy already hold joint agreements across four other offshore areas south of Crete and the Peloponnese.

The exploration program has completed early phases including geological, geophysical and environmental studies.

The consortium will now evaluate whether to advance to a third phase that could include exploratory drilling.

U.S. Ambassador to Greece Kimberly Guilfoyle said the partnership "deepens and strengthens the region's energy architecture" and positions Greece as "a dynamic regional energy hub" — language that underscores Washington's strategic interest in developing eastern Mediterranean energy routes as an alternative to Russian supply chains.

Chevron Director of Exploration for North Africa, the Mediterranean and the Middle East Andrew Deighan called the deal "another important milestone" in expanding the company's global exploration portfolio.

Helleniq Energy chief executive Andreas Siamisis said the joint expansion "creates a much larger exploration area" enabling synergies from exploration through to potential development.

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