In the photo, from left, the CEO of HELLENiQ ENERGY, Mr. Andreas Siamisiis, the Minister of the Ministry of National Economy, Mr. Stavros Papastavrou, the US Ambassador to the Hellenic Republic, Ms. Kimberly Ann Guilfoyle, the Prime Minister, Mr. Kyriakos Mitsotakis, the Vice President of Global New Ventures of Chevron, Mr. Gavin Lewis, the CEO of EDEYEP, Mr. Aristophanes Stefatos, and the Deputy Minister of Environment and Energy, Mr. Nikos Tsafos

HELLENiQ ENERGY announces that, together with Chevron , they signed, today, Lease Agreements with the Greek State for the granting of hydrocarbon exploration and exploitation rights in four new offshore areas.

The Conventions concern the maritime areas south of Crete and the Peloponnese and mark an important step for the development of the hydrocarbon exploration and production sector in Greece, while strengthening the country's role as an energy hub in Southeastern Europe.

In the business scheme, Chevron has a 70% stake, having also assumed the duties of the operator, while HELLENiQ ENERGY participates with a 30% stake. The HELLENiQ ENERGY and Chevron partnership was declared the concessions contractor through an international competitive bidding process announced by the Greek State in 2025.

The four offshore areas - "South Crete 1", "South Crete 2", "South Peloponnese" and "Block A2" - cover a total area of ​​approximately 47,000 square kilometers. According to the terms of the Lease Agreements, the contractor will proceed with exploration work in three phases, with the aim of evaluating the hydrocarbon potential in the specific areas.

It is noted that the areas to be investigated concern marine environments with complex geological structures, and great depths - exceeding 1,500 meters in some cases.

HELLENiQ ENERGY CEO, Andreas Siamisis, stated:
"The new concession contracts are another important step in the implementation of our strategy to develop a diversified energy portfolio in a way that adds value to our Company. Despite our significant investments and progress in RES and the energy transition, we recognize at the same time that hydrocarbons will continue to contribute significantly to security of supply for many years to come.

Our activity in the field of exploration and development of deposits is based on selective investments and collaborations with strong partners, who possess technical excellence, experience and a proven ability to implement complex projects.

Our collaboration with Chevron, one of the world's leading energy companies, reinforces this strategic direction and confirms the importance we attach to partnerships with international groups."

Gavin Lewis , Vice President, Global New Ventures, Chevron , said:
"We look forward to working with our strategic partners, HELLENiQ ENERGY and the Hellenic Republic, to evaluate the hydrocarbon reserves of these new areas. Leveraging its expertise in developing oil and gas projects around the world, Chevron has the necessary resources, experience and advanced technology to promote and exploit new energy sources in this dynamically developing region."

The signing ceremony took place in Athens, in the presence of the Prime Minister of the Hellenic Republic, Mr. Kyriakos Mitsotakis , as well as representatives of the Ministry of Environment and Energy , Chevron and HELLENiQ ENERGY, at the highest level.

The Lease Agreements were signed, on behalf of the Greek State, by the Minister of Environment and Energy, Mr. Stavros Papastavrou , and the CEO of the Hellenic Hydrocarbon and Energy Resources Management Company (HHRE), Mr. Aristophanes Stefatos , while on behalf of Chevron and HELLENiQ ENERGY, Mr. Gavin Lewis , Vice President of Global New Ventures, and the CEO of HELLENiQ ENERGY, Mr. Andreas Siamisis , respectively .

Lease Agreements are subject to ratification by law by the Greek Parliament.

KeyFacts Energy: Hellenic Petroleum Greece country profile