General – Lease Agreement
Today marks an important step forward for Helleniq Energy.
The company announced the signing of Lease Agreements with the Hellenic Republic, in collaboration with Chevron, for the exploration of four offshore areas south of Crete and the Peloponnese.
The four offshore blocks – South Crete 1, South Crete 2, South of Peloponnese, and Block A2 – cover a total area of approximately 47,000 square kilometers.
Under the terms of the lease agreements, the joint venture will undertake a three-phase exploration programme to assess the areas’ hydrocarbon potential. The target areas are located in ultra-deepwater settings, with some lying beyond 1,500 metres of sea depth, and have complex geological structures.
Andreas Shiamishis, CEO of Helleniq Energy, commented: “This new concession agreement represents a strategically important step in Helleniq Energy’s long-term growth strategy and the further diversification of our portfolio. While investing in energy transition, we recognize that hydrocarbons will continue to play a critical role in ensuring security of supply for many years to come. Our participation in offshore exploration reflects a value-driven approach, focused on selective investments and partnerships that combine scale, technical excellence, and deep industry experience. The collaboration with Chevron, one of the world’s leading energy companies, significantly strengthens this effort and underlines the importance we place on working alongside partners with proven expertise in complex offshore environments.”
