HelleniQ Energy signed an agreement on June 16 to grant Chevron a 70% interest in the Block 10 offshore concession in the Kyparissiakos Gulf, Greece. HelleniQ Energy will retain a 30% stake, while Chevron will assume project operatorship and use its deepwater exploration expertise to evaluate the region's hydrocarbon potential. This is the fifth joint offshore concession between the two companies in Greece, following earlier collaborations south of Crete and the Peloponnese. Block 10 is in the second phase of its exploration program, having already completed 2D and 3D seismic surveys that provided critical insights into the area's complex geology. Both companies said the agreement strengthens their strategic alignment in the Mediterranean, a key growth area for Chevron's global exploration portfolio, and they plan further technical analysis to guide future drilling decisions.
Hellenic Petroleum Holdings S.A.HelleniQ Energy retains 30% stake and partners with Chevron, reducing exploration risk and leveraging expertise.
Chevron CorpChevron gains 70% interest and operatorship in Block 10, expanding its Mediterranean exploration portfolio.