HelleniQ Energy and U.S. energy giant Chevron have  submitting a joint bid for four offshore hydrocarbon exploration blocks. The consortium’s proposal, formally tendered today, targets deepwater areas located off the coasts of the Peloponnese peninsula and the island of Crete, forming a significant strategic move aimed at bolstering domestic energy security and expanding Greece’s role in the Eastern Mediterranean energy landscape.

This move follows earlier expressions of interest by both companies in specific concession areas—namely “Block A2” and “South of Peloponnese”—which were formally endorsed by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) in January 2025. In that decision, HEREMA submitted its advisory to the Ministry of Environment and Energy, prompting the issuance of Ministerial Decision No. 7032/417 and allowing the licensing process to commence.

Building on that approval, in March 2025 the Greek government accepted Chevron’s expression of interest in two additional offshore blocks—“South Crete I” and “South Crete II.” With that advancement, Greece now formally offers four major concession areas covering approximately 47,000 square kilometres for international bidding.

Chevron confirmed that it has submitted a non-binding expression of interest to HEREMA and reaffirmed its commitment to progressing through the licensing process with both regulatory authorities and the Greek government. Greece’s Energy Minister, Stavros Papastavrou, described the development as a “vote of confidence” in Greece’s investment climate, noting that such international interest signals the potential to unlock significant domestic energy resources.

As Greece continues its pivot toward energy resilience—strengthening domestic production while embracing renewable technologies—this strategic collaboration with Chevron represents a critical step in reducing reliance on imported gas, particularly in light of recent European efforts to diversify energy supplies following geopolitical instability.