Greece will sign four major concession agreements Monday with a consortium led by U.S. energy giant Chevron and local partner HELLENiQ Energy, granting exclusive rights to explore for hydrocarbons in deepwater blocks south of the Peloponnese and Crete.
The signing ceremony is scheduled for noon at the Acropolis Museum, following an earlier meeting between Prime Minister Kyriakos Mitsotakis and senior executives at the Maximos Mansion.
Environment and Energy Minister Stavros Papastavrou will sign on behalf of the Greek state, alongside Aris Stefatos, CEO of the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA). Chevron will be represented by Vice President of Global New Ventures Gavin Lewis, and HELLENiQ Energy by CEO Andreas Shiamishis.
The agreements cover the offshore blocks "South of the Peloponnese," "A2," "South of Crete I," and "South of Crete II." Mr. Papastavrou hailed the deal as a "record-time" achievement that cements Greece’s position on the global energy map.
Once ratified by Parliament, the deal clears the way for seismic surveys expected to begin in late 2026 or early 2027.
The partnership underscores deepening U.S.-Greece energy ties as Athens positions itself as a critical hub for European energy security. The project complements the "Vertical Corridor" initiative, a network designed to transport non-Russian gas from Greek LNG terminals north to Ukraine and Central Europe.
This development coincides with accelerated activity in the Ionian Sea, where an ExxonMobil-led consortium is preparing for Greece’s first deepwater exploratory drilling in decades at "Block 2."