Greece Advances Offshore Oil Exploration Near Crete, Approves Chevron Bid

08:31 12/4/2025 - Πηγή: iEfimerida

Greece's energy minister has signed a ministerial decision defining the precise coordinates for two offshore blocks south of Crete that will be opened for oil and gas exploration and exploitation, paving the way for international bidding and advancing the country’s energy ambitions.

Environment andEnergy Minister

Stavros Papastavrou approved the decision regardingareas designated “South Crete 1” and “South Crete 2,” andconfirmed that the concessions will be awarded through leasecontracts. The next step, according to the ministry’s plan, is theissuance of a second ministerial decision to launch a formalinternational tender.

The process followsa formal expression of interest submitted by Chevron BalkansExploration B.V., which was accepted by a separate decision on April4, 2025.

The ministry saidthe government remains committed to its strategic energy goals ofmaking Greece a secure, attractive, and geopolitically influentialenergy player in the region.

The move highlightsAthens’ efforts to diversify its energy sources and attract foreigninvestment in the sector amid evolving global energy dynamics.

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Greece Advances Offshore Oil Exploration Near Crete Approves Chevron Bid,