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US energy giant Chevron has confirmed its interest in three Greek offshore hydrocarbon exploration blocks, responding to media inquiries following recent announcements by the Ministry of Energy.
“Chevron confirms that it has submitted a non-binding expression of interest to the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) for three offshore blocks. We look forward to working with the regulatory authority and the Greek government to successfully complete the licensing process,” a company representative stated, adding that the eastern Mediterranean is an area of high interest.
Earlier on Wednesday, the Ministry of Energy announced that the Greek government had accepted Chevron’s interest in exploring hydrocarbon deposits in the South Crete I and South Crete II offshore areas.
The ministry described this development as a game-changer, as Greece will now enter international markets with four new areas for concession. These include “Block A2,” “South of the Peloponnese,” “South of Crete 1,” and “South of Crete 2,” covering a total area of 47,000 square kilometers. This effectively doubles the area of active marine zones available for exploration.
The expansion of available exploration plots increases the chances of identifying “commercially exploitable” hydrocarbon deposits, the ministry added in a statement.
Minister Stavros Papastavrou said that Chevron’s interest “is a vote of confidence in Greece. It proves that our country remains an attractive investment destination, with a reliable government that guarantees stability.”