Chevron to acquire 70% operatorship stake in Greek offshore gas exploration block from Helleniq Energy

Type: Partnership · Technology: Oil Gas · Country: Greece · Announced: 2026-05-28

U.S. oil major Chevron formally requested to assume a 70% operatorship stake in Block 2, an offshore gas exploration block located southwest of Greece in the Ionian Sea, from Helleniq Energy. Upon approval, Chevron will lead exploration activities and seismic data evaluation, while Helleniq retains a 30% non-operating interest in the project. The Greek energy ministry indicated that additional time may be granted to both companies to assess completed seismic data before deciding on exploratory drilling. This transaction marks Chevron’s strategic expansion into the Mediterranean energy market, reinforcing its presence in Greece’s offshore hydrocarbon sector. The deal positions Chevron as the primary decision-maker for future drilling and development decisions in the block.

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