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Chevron’s Block 10 Bet Rests on Promising Seismic Data

Chevron’s Block 10 Bet Rests on Promising Seismic Data

Hellenic Shipping News

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hevron’s move to enter Block 10, announced on Thursday, is underpinned by seismic data pointing to potentially exploitable hydrocarbon deposits in the offshore concession south of the Ionian Sea and off the Kyparissia Gulf in the western Peloponnese.

The U.S. major identified promising geological structures in the block based on 2D and 3D surveys obtained from HELLENiQ ENERGY, the Greek group that has held the lease since 2019 and from which Chevron is seeking to acquire a 70% stake.

The data point to a subsurface that resembles that of Block 2, the offshore area northwest of the Ionian where ExxonMobil entered in November as part of a consortium with Energean and HELLENiQ ENERGY. Energean is set to drill the first exploratory well in Block 2 in February 2027, after which ExxonMobil will take over as operator.

A path to drilling

Chevron has requested an 18-month extension of the second exploration phase in Block 10. If the geophysical data point to a viable target during that window, the concession could be brought to a

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