financetom
Business
financetom
/
Business
/
Energean, ExxonMobil move to the next exploration phase in Greek offshore block
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Energean, ExxonMobil move to the next exploration phase in Greek offshore block
Mar 19, 2026 8:27 AM

* Joint venture includes Energean ( EERGF ), ExxonMobil ( XOM ), and

Helleniq Energy

* Venture notified Greece of intention to move to next

exploration phase

* U.S. looks to expand footprint in the Mediterranean

ATHENS, March 19 (Reuters) - A joint venture by

Energean ( EERGF ), ExxonMobil ( XOM ) and Helleniq Energy has notified Greece it

would look for gas in a western offshore bloc, the nation's

hydrocarbons management agency said on Thursday, a move that

would involve the first test drilling in the country for

decades.

In a deal announced last year, U.S. oil major ExxonMobil ( XOM )

joined Energean ( EERGF ) and Helleniq Energy, Greece's

biggest oil refiner, to explore for natural gas in Block 2 in

the Ionian Sea.

After assessing the area's potential, the joint venture

notified the agency of its plans to proceed to the second phase,

which also includes the first offshore exploration drilling in

40 years, the state-owned Hellenic Hydrocarbons and Energy

Resources Management Company said in a statement.

The United States, which holds vast reserves of natural gas,

seeks to increase its share in Europe's energy mix via liquefied

natural gas as the European Union seeks to replace Russian gas

in the coming years.

Greece, which produces small volumes of oil and relies on

gas imports for power generation and domestic consumption, has

been keen to explore for gas and bolster its role as a transit

route for Europe.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bkv Insider Sold Shares Worth $300,000, According to a Recent SEC Filing
Bkv Insider Sold Shares Worth $300,000, According to a Recent SEC Filing
May 26, 2025
11:11 AM EDT, 05/12/2025 (MT Newswires) -- Lindsay B Larrick, Chief Legal and Administrative Officer, on May 09, 2025, sold 15,000 shares in Bkv (BKV) for $300,000. Following the Form 4 filing with the SEC, Larrick has control over a total of 230,528 common shares of the company, with 230,528 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1838406/000162828025024493/xslF345X05/wk-form4_1747062487.xml Price: 21.91, Change: +1.44,...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Inno Holdings Collaborates With New Life Technology to Build a B2B Marketplace Platform; Shares Rise
Inno Holdings Collaborates With New Life Technology to Build a B2B Marketplace Platform; Shares Rise
May 26, 2025
11:12 AM EDT, 05/12/2025 (MT Newswires) -- Inno Holdings ( INHD ) said Monday it entered a partnership with New Life Technology Development to create a B2B marketplace platform. The platform will leverage big data and cloud computing technologies to enable manufacturers and distributors to sell electronic-based products directly to business clients, according to a statement. The marketplace will also...
Sol Strategies  Announces Staking Partnership With DigitalX
Sol Strategies Announces Staking Partnership With DigitalX
May 26, 2025
11:14 AM EDT, 05/12/2025 (MT Newswires) -- Sol Strategies ( CYFRF ) on Monday announced a new strategic staking partnership with DigitalX, an Australian Stock Exchange-listed blockchain technology company and digital asset fund manager. Under the partnership, DigitalX will stake its Solana (SOL) holdings through BitGo's institutional custody platform, by selecting SOL Strategies ( CYFRF ) as its validator partner....
Copyright 2023-2026 - www.financetom.com All Rights Reserved