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Chevron Eyes Hydrocarbon Exploration Off Crete
Interest in Offshore Blocks
U.S. oil giant Chevron has expressed interest in exploring hydrocarbons in two offshore blocks south of Crete, Greece. The Greek government has accepted Chevron’s interest and will determine the exact coordinates of the blocks before launching an international tender.
New Gas Exploration Tender
Greece has also initiated a tender for gas exploration rights in a deep-sea block south of the Peloponnese peninsula. This follows a prior expression of interest by Chevron, signaling the company’s growing focus on the Eastern Mediterranean region.
Chevron’s Expanding Presence in the Region
Chevron already operates gas fields in Israel and holds interests in Egypt and Cyprus. Its interest in Greece aligns with its broader strategy to expand its energy portfolio in the region.
Greece’s Energy Strategy
The Greek government aims to enhance energy independence and reduce energy costs through domestic hydrocarbon exploration. While focusing on natural gas as a transitional fuel, Greece continues to expand its renewable energy capacity.