Chevron Rounds Up Bid to Drill for Natural Gas Offshore Greece

Chevron has officially joined Greece’s effort to explore for natural gas offshore, submitting a bid in partnership with Helleniq Energy to develop four deep-sea blocks. The tender, covering areas off the coasts of Crete and the Peloponnese, was launched earlier this year by the Greek government.

The bid came in before the deadline and was confirmed by both companies involved. Chevron emphasized the importance of its growing presence in the Eastern Mediterranean, calling the region a priority for its future operations.

Though Greece has increased its output from renewable sources in recent years, it remains heavily reliant on gas to meet its energy needs. Officials see domestic gas discovery as a key component in Europe’s broader strategy to reduce dependence on Russian energy following the invasion of Ukraine.

Near the blocks where the new proposals were submitted, an ExxonMobil-led group already holds licenses and has conducted seismic surveys, though no test drilling has confirmed large quantities yet.

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