ATHENS, Oct 10 (Reuters) - Greece is working hard to
finalise a contract with U.S. oil major Chevron ( CVX ) and its
Greek partner Helleniq Energy for energy exploration
offshore Greece by the end of the year, the country's energy
minister said on Friday.
Chevron ( CVX ) and Greece's biggest oil refiner Helleniq submitted
a joint bid in a Greek tender this year to look for gas in four
deep-sea blocks off the Peloponnese peninsula and the island of
Crete.
"We are working intensively with the U.S. company and
Helleniq Energy to meet the timetables and conclude the contract
within 2025," Energy Minister Stavros Papastavrou told Greek
television Action24.
Greece, which produces very small volumes of oil and relies
on hefty gas imports for power generation and domestic
consumption, has been keen to explore for gas and bolster its
role as a gas transit route as part of a European Union push to
move away from Russian energy after Moscow invaded Ukraine.
Once the contract with Chevron ( CVX ) is finalised, it needs
approval from a Greek court of auditors and the parliament
before the company can start seismic research in 2026 and it has
up to five years to locate potential recoverable deposits,
Papastavrou said.
Any eventual test drilling would not come before the
2030-2032 period, he added.