Athens, Greece, March 26, 2025 — Greek Prime Minister Kyriakos Mitsotakis swiftly welcomed Wednesday’s news…
Tag: Chevron
Greece has launched an international tender for hydrocarbon exploration in the Ionian Sea, granting rights for two offshore areas following interest from energy giants Chevron and HELLENiQ Energy. Minister of Environment and Energy Theodoros Skylakakis emphasized the move’s significance for Greece’s energy security and transition, highlighting the country’s growing appeal for major energy investments.
Greece has launched an international tender for hydrocarbon exploration rights in two offshore blocks, with Chevron and HelleniQ Energy expected to bid. This move is part of Greece’s “Hydrocarbons 2.0” project and comes amid heightened activity in the region, including ExxonMobil’s upcoming decision on exploration off the coast of Crete. The tender process is expected to conclude within the year, with significant implications for Greece’s energy future.
Cyprus and Egypt will sign two landmark natural gas agreements on Monday, marking the first-ever commercialization of Cyprus’s offshore reserves. These deals, involving major energy companies like ENI, Total, Chevron, Shell, and NewMed, are expected to significantly boost Cyprus’s economy and reduce electricity prices.
Chevron has expressed interest in participating in hydrocarbon exploration off the western coast of Greece, particularly in the Ionian Sea, according to the country’s energy minister. The announcement comes as Greece prepares for an international tender for drilling rights, with plans to expand the exploration area by 25%. Environmental groups have raised concerns over the proximity of the exploration areas to a planned marine park.
Chevron has shown interest in exploring hydrocarbon resources in Greece, focusing on areas southwest of the Peloponnese and west of Crete, according to the Greek Energy Ministry. The government plans to expand exploration zones by 25% and launch an international tender, emphasising Greece’s role in the global energy market amid efforts to reduce reliance on Russian gas.
ExxonMobil’s Stena IceMax drillship will initiate drilling in mid-January at the ‘Electra’ site within Block 5 of Cyprus’ Exclusive Economic Zone. Energy Minister George Papanastasiou noted the promising geological formations at ‘Electra’. The drilling program, in partnership with Qatar Energy, will also target the ‘Pegasus’ site in Block 10. This exploration aims to confirm the area’s potential natural gas reserves.
Tags: Aphrodite gas field, Cyprus, NewMed Energy, Chevron, Shell, natural gas, floating production facility, Block 12, Egyptian transmission system, oil and gas development
Excerpt: The consortium behind the Aphrodite natural gas field has submitted a $4 billion development plan to the Cypriot government. Revised by NewMed Energy, Chevron, and Shell, the plan involves constructing a floating production facility above the reservoir, aiming for a daily output of 800 million cubic feet. Natural gas will be piped to Egypt’s transmission system, with Aphrodite holding an estimated 3.6 trillion cubic feet of gas.
Chevron and ExxonMobil are preparing to tap into a massive natural gas deposit off the…
The Ministry of Energy, Commerce and Industry of Cyprus said on Friday that it has…