Chevron awarded four offshore leases for Greece exploration

Greece

ATHENS, February 16, 2026 – Chevron has signed lease agreements to explore four offshore blocks in Greece in partnership with HELLENiQ ENERGY, the company said on Monday.

The awarded blocks are located south of Crete and in the Peloponnese region. Chevron holds a 70% operating interest, while HELLENiQ ENERGY holds 30%. The leases follow an international tender launched by the Greek government in 2025 and are subject to ratification by the Greek Parliament.

“This is another important milestone for Chevron as we continue building momentum in the Mediterranean region,” Chevron vice-president of exploration Kevin Mclachlan said.

Initial plans involve 2D and 3D seismic exploration to assess the hydrocarbon potential of the frontier areas.

Chevron has existing assets across the Mediterranean, including producing gasfields offshore Israel and the Aphrodite gasfield under development offshore Cyprus. It also operates exploration blocks in Egypt and recently signed MoUs to explore upstream opportunities in Libya, Turkey and Syria.

Chevron is one of the world’s largest integrated energy companies, engaged in oil and gas production, petrochemicals, fuels and new energies. In the Mediterranean, it is expanding its exploration portfolio to support regional energy security and supply diversification.

Read our latest insights on: