Chevron and HELLENiQ ENERGY have today signed a historic agreement with the Hellenic Republic, opening one of the largest unexplored offshore areas within the European Union to help strengthen natural gas energy production in Europe.
The agreements grant Chevron (70%, Operator) and HELLENiQ ENERGY (30%) exploration rights to four offshore blocks south of Crete and the Peloponnese, covering approximately 47,000 sq km. The project supports Europe’s efforts to diversify energy supplies. The Joint Venture will follow a phased exploration programme, with seismic to start this year.
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