Chevron Confirms Interest in Hydrocarbon Exploration off Crete

Chevron has reaffirmed its interest in conducting hydrocarbon exploration south of Crete, according to a company representative.

In response to inquiries from Greek journalists regarding the company’s interest in the South Crete I and II offshore blocks, Sally Jones, Chevron’s representative for Europe and the Middle East, confirmed the company’s non-binding interest in three areas.

“We are ready to cooperate with the regulator and the Greek government to successfully complete the licensing process. Chevron holds a significant position in the Eastern Mediterranean, a region that is a vital part of our future and a top priority for us,” she stated.

Earlier, Greece’s Ministry of Environment and Energy had accepted Chevron’s expression of interest for the South Crete I and South Crete II offshore areas.

Next Steps in the Licensing Process

The Greek government formally accepted Chevron’s interest in the South Crete I and II blocks, which are within the areas designated by the international tender launched in 2014.

The Ministry of Environment and Energy is expected to issue ministerial decisions regarding the acceptance of the request, the geographical delineation of the areas, the selection of contract types, and the approval of the tender documents.

Greece’s Minister of Environment and Energy, Stavros Papastavrou, emphasized the significance of this development, stating:

“This is a vote of confidence in Greece. The relevant ministerial decisions will follow, specifying the exact coordinates and launching an international tender. The government of Kyriakos Mitsotakis is consistently delivering on its commitments to establish Greece as an energy-secure, investment-attractive, and geopolitically strong nation.”

About Chevron

Chevron, a U.S.-based energy giant, is the world’s second-largest energy company, with a market capitalization of approximately €300 billion.

With operations in over 25 countries—including Egypt, Angola, Argentina, Australia, Brazil, the UK, the U.S., Canada, and Cyprus—Chevron has extensive experience in deepwater drilling, particularly in the Gulf of Mexico and Brazil.

The Eastern Mediterranean has been identified as a strategic priority for Chevron, and its interest in the South Crete offshore blocks underscores its commitment to expanding hydrocarbon exploration in the region. This move highlights Greece’s potential role in the broader energy landscape of the Eastern Mediterranean.