Chevron awarded four offshore leases for Greece exploration blocks

Chevron Corporation, through its four Dutch subsidiaries, together with HELLENiQ ENERGY, has signed Lease Agreements with the Hellenic Republic to advance hydrocarbon exploration across four offshore blocks in Greece.

The blocks are located south of Crete (South Crete 1 and South Crete 2) and offshore the Peloponnese (South of Peloponnese and Block A2). The consortium—comprised of Chevron as operator with a 70% interest and HELLENiQ ENERGY holding the remaining 30%—was selected through an international tender process initiated by the Greek government in 2025.

"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," said Kevin Mclachlan, Vice President of Exploration at Chevron.

"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."

Under the Lease Agreements, the consortium will carry out 2D and 3D seismic survey programs during the first phase to evaluate the hydrocarbon potential of the designated areas. The agreements remain subject to ratification by the Greek Parliament.

Chevron Corporation maintains a growing presence across the Mediterranean region, including two producing gas fields offshore Israel and the Aphrodite gas field offshore Cyprus, which is currently under development. In Egypt, Chevron operates two exploration blocks and also participates as a non-operating partner in a joint venture in the Mediterranean Sea.

On February 11, 2026, Chevron was announced as the successful bidder for the onshore Block S4 in Libya, following the signing of a Memorandum of Understanding (MoU) to assess onshore development and exploration opportunities in the country. In the same month, the company was also awarded MoUs with Turkey and Syria to evaluate additional prospects.

Chevron’s Dutch subsidiaries involved in the Greek leases are 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.