offshore gas — offshore gas — Chevron has made a significant move by submitting a bid to explore for natural gas in four offshore blocks in Greece. This bid, made in partnership with Hellenic Energy, was confirmed by Greece’s Energy Minister, Stavros Papastavrou, on Wednesday.
- The deadline for bids was set for 1700 local time (1400 GMT) on Wednesday, coinciding with a growing interest in tapping into Greece’s potential natural gas reserves.
The tender for this exploration opportunity was launched earlier this year, following expressions of interest from both Chevron and Hellenic Energy for four deep-sea blocks located off the Peloponnese peninsula and near the island of Crete.
The deadline for bids was set for 1700 local time (1400 GMT) on Wednesday, coinciding with a growing interest in tapping into Greece’s potential natural gas reserves.
Greece’s current energy landscape is primarily reliant on gas for power generation, despite a notable increase in renewable energy output in recent years. The country’s strategy is part of a broader European Union initiative to reduce dependence on Russian energy supplies, particularly in the wake of the conflict stemming from Russia’s invasion of Ukraine.
Recent significant gas discoveries off the coast of Egypt, situated south of Crete, have sparked optimism that Greek waters may similarly be rich in natural gas reserves. This has led to heightened interest from international energy companies.
The area off Crete is particularly intriguing as it borders two licensed blocks where an ExxonMobil-led consortium has been conducting seismic surveys. These surveys are a precursor to any potential drilling operations, which could further illuminate the gas potential in the region.
The collaboration between Chevron and Hellenic Energy signals a strategic partnership aimed at leveraging local insights and expertise while tapping into Chevron’s extensive experience in offshore exploration.
