Greece lets Chevron lead gas exploration in another offshore block

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Chevron Corporation

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- Greece has approved Chevron's CVX.N request to take over a 70% stake from Greece's Helleniq Energy HEPr.AT in an offshore block southwest of Greece, the Greek energy ministry said on Monday, in a move that further expands the U.S. oil major's presence in the Mediterranean.

  • Chevron last month filed a request to become the operator and lead the search for gas in an offshore block southwest of the Ionian Sea, with Helleniq retaining 30%.

  • Greece has concluded all approvals for Chevron to take over the block "in the next coming days", the Greek energy ministry said in a statement.

  • A Chevron-led consortium has signed exclusive lease agreements to lead the search for gas in another four deep-sea blocks off Greece.