The U.S. energy major aims to expand its Eastern Mediterranean footprint through a partnership with Helleniq Energy.
Chevron has filed to acquire a 70% stake in an offshore oil and gas exploration block in southwest Greece. The block is currently fully owned by Helleniq Energy, Greece’s state-backed energy firm, which confirmed the request through the Greek Energy Ministry on Thursday.
Chevron and Helleniq Energy already collaborate on multiple offshore exploration projects in Greece. The move aligns with Chevron’s strategy to strengthen its presence in the Eastern Mediterranean amid growing regional energy exploration activity.
No financial terms were disclosed, and the deal remains subject to regulatory approvals. The block’s potential reserves or production timelines were not specified in the filing.