General – Exploration
Greece’s parliament has ratified agreements for four frontier deepwater exploration blocks, which have been awarded to a partnership between Chevron and HELLENiQ ENERGY.
These blocks cover highly prospective areas to the south of Crete and the Peloponnese.
ExxonMobil and Energean are also active in Greece in the near term, with a multi-TCF exploration well planned for 2027.
If either joint venture achieves significant exploration success, Greece could become a major gas supplier to markets seeking alternatives to Russian gas.
More broadly, southern Europe and the Mediterranean are witnessing a significant increase in gas potential. The Romanian Neptun Deep project is scheduled to begin operations this year, and the Krum-1 well is currently being drilled in the Black Sea.
With the Black Sea, the Levantine Basin offshore Cyprus and the Block 6 project involving Eni and TotalEnergies – a transformational multi-TCF development for the country’s energy mix – all eyes are on southern European gas.
