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Greece approves tender for hydrocarbons search in four offshore blocks
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Greece approves tender for hydrocarbons search in four offshore blocks
May 26, 2025 12:05 AM

ATHENS, May 2 (Reuters) - Greece has approved an

international tender for hydrocarbon exploration in four blocks

in the Mediterranean Sea, following an expression of interest by

Chevron ( CVX ) and Helleniq Energy, the energy

ministry said on Thursday.

Greece this week issued a ministerial decision to launch an

international tender after it accepted Chevron's ( CVX ) interest for

two blocks south of Crete and for one block off the Peloponnese

peninsula, the energy ministry said in a statement.

An ExxonMobil-led consortium has been evaluating

seismic data after winning a licence to look for gas in another

two blocks of Crete.

Interested investors will have 90 days to bid for the new

blocks once the tender is published in the official gazette of

the European Union, the ministry added.

Greece relies on oil and gas imports to cover part of its

domestic needs but has renewed its drive to look for

hydrocarbons in recent years, encouraged by major gas finds off

Egypt, which lies south of Crete, and despite a long-standing

dispute with Turkey about jurisdiction over energy resources in

the Aegean Sea.

Greek Energy Minister Stavros Papastavrou was expected to

meet Chevron ( CVX ) officials during a trip to the United States later

this month, a Greek energy ministry official told Reuters.

Greece has said it aims to conclude the tender by August and

have the lease agreements with selected bidders approved by

parliament by the end of the year.

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