Greece’s offshore hydrocarbons prospects are drawing increased attention from major international
Greece’s offshore hydrocarbons prospects are drawing increased attention from major international oil companies, with interest extending beyond U.S. giant Chevron.
Chevron recently expressed interest in three offshore blocks—”South “of Peloponnese, “South of Crete I,” and “South of Crete II.” Following the proposal’s acceptance by the Greek Minister of Environment and Energy Stavros Papastavrou, the government officially launched an international tender for exploration rights.
According to sources, a number of major oil companies have reviewed data in the virtual data room set up by the Hellenic Hydrocarbon and Energy Resources Management Company (HEREMA) as part of the tender process. Among those companies are European energy giants BP and Eni, which have examined seismic survey data for blocks in the Northern and Central Ionian Sea as well as south of Crete.
Accessing the data room, however, does not automatically signal a firm commitment to participate. Companies must purchase specific data packages and submit formal bids by the September 10 deadline to compete for the offshore licenses.
Both BP and Eni are already active in the Eastern Mediterranean, where they hold exploration and production licenses. Eni notably discovered the Zohr gas field—the region’s largest—off Egypt and is also conducting exploration activities in
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