Greece’s Ministry of Environment and Energy announced Wednesday, March 26, that it has accepted an expression of interest from US company Chevron to explore hydrocarbons in two new marine areas, South Crete I and South Crete II.
The ministry will soon issue a decision to finalise the acceptance, determine the exact coordinates, and announce an international tender for the project.
This move is seen as a significant step in utilising Greece’s national energy resources for the benefit of its citizens.
Chevron, the world’s second-largest private energy company, had previously expressed similar interest in areas south of the Peloponnese, a request accepted by former energy minister Theodoros Skylakakis.
The new exploration plots are part of a broader expansion, with four areas now available for international concessions, including “Block A2” and the southern areas of Crete and the Peloponnese.
With a combined total of 47,000 square kilometres, the expanded exploration zones significantly increase the chances of discovering commercially viable hydrocarbon deposits.
