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Chevron bids in tender for gas exploration offshore Greece

Published by Global Banking & Finance Review

Posted on September 10, 2025

2 min read

· Last updated: January 22, 2026

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Chevron bids in tender for gas exploration offshore Greece
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By Angeliki Koutantou and Lefteris Papadimas ATHENS (Reuters) - U.S. oil major Chevron has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece's

Chevron bids in tender for gas exploration offshore Greece

By Angeliki Koutantou and Lefteris Papadimas

ATHENS (Reuters) - U.S. oil major Chevron has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece's Hellenic Energy, Greece's Energy Minister Stavros Papastavrou said on Wednesday. 

The country launched the tender this year after Chevron and oil refiner Hellenic Energy expressed interest in four deep-sea blocks off the Peloponnese peninsula and the island of Crete.

The deadline for bids was at 1700 (1400 GMT) on Wednesday.

A Chevron spokesperson confirmed the bid for the four blocks.

"Chevron has a large and important position in the Eastern Mediterranean, a region which is very much a part of our future and a priority for us."

Greece, which produces very small volumes of oil, has ramped up renewables output in recent years but still relies heavily on gas for power generation. The country aims to tap domestic resources as part of a European Union push to shift away from Russian energy after Moscow invaded Ukraine.

Major gas finds off Egypt, which lies south of Crete, have sparked hopes that Greek waters could also contain significant gas reserves.

The area off Crete borders two licensed blocks where an ExxonMobil-led consortium has been evaluating seismic data before taking any final decision on test drilling.

(Reporting by Angeliki Koutantou and Lefteris Papadimas;Additional reporting by Sheila Dang; Editing by Edward McAllister, Kirsten Donovan)

Key Takeaways

  • Chevron bids for gas exploration in Greece.
  • Partnership with Hellenic Energy for four blocks.
  • Focus on Eastern Mediterranean gas reserves.
  • Greece aims to reduce reliance on Russian energy.
  • Potential significant gas reserves off Crete.

Frequently Asked Questions

What has Chevron submitted a bid for?
Chevron has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Hellenic Energy.
What is the significance of the gas exploration off Greece?
The exploration is significant as Greece aims to tap into domestic resources, especially given the hopes for substantial gas reserves in Greek waters.
What are the geographical areas involved in the exploration?
The exploration involves four deep-sea blocks off the Peloponnese peninsula and the island of Crete.
What is Greece's current energy strategy?
Greece has ramped up its renewable energy output but still relies heavily on gas for power generation, aiming to utilize domestic resources.
What other companies are involved in the region's gas exploration?
An ExxonMobil-led consortium is also evaluating seismic data in nearby licensed blocks before making decisions on test drilling.

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