Chevron Corp. will sign agreements Monday Feb. 16, granting it rights to explore
Chevron Corp. will sign agreements Monday Feb. 16, granting it rights to explore and potentially exploit hydrocarbons in four offshore blocks in Greece, marking one of the most significant entries by a U.S. energy major into the country’s upstream sector in recent years.
The contracts, scheduled to be signed at noon at the Acropolis Museum in Athens, follow Chevron’s victory last October in a tender conducted by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA).
Four Offshore Blocks South of Crete and Peloponnese
Under the agreements, Chevron will explore for potential natural gas deposits in the offshore blocks “South of the Peloponnese,” “A2,” “South of Crete I” and “South of Crete II.” The company was the sole bidder for the four concessions, alongside minority partner HELLENiQ ENERGY.
Two of the areas border blocks already held by ExxonMobil west and southwest of Crete, underscoring the growing presence of U.S. companies in Greek offshore exploration.
The combined area spans roughly 47,000 square kilometers.
The agreements will be signed on behalf of the Greek state by Environment and Energy Minister Stavros Papastavrou and HEREMA CEO Aris Stefatos. Chevron will be represented by Gavin Lewis, vice president of Global New Ventures,
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