Hydrocarbon exploration and development partnership

By Global Infrastructure Sherpa · Feb 16, 2026

Partnership Utilities announced Athens, Greece Feb 16, 2026

280 billion cubic meters

Capacity

development

Stage

Chevron and HELLENiQ ENERGY have formed a partnership to explore for hydrocarbons across four offshore blocks south of Crete and the Peloponnese. Chevron holds a 70% interest and is the operator, while HELLENiQ ENERGY holds the remaining 30%.

Source Intelligence

KEY DETAILS

The agreement covers a sprawling area of approximately 47,000 square kilometers, with Chevron taking a 70% interest and the role of operator, while HELLENiQ ENERGY holds the remaining 30%.

“

Capacity

Geological analyses have pointed to the potential for a natural gas deposit of around 280 billion cubic meters in the area south of Crete

“

Location

across four vast offshore blocks south of Crete and the Peloponnese

“

Announcement

ATHENS, Greece – February 16, 2026

“

Signing

The signing ceremony, held in Athens and attended by Prime Minister Kyriakos Mitsotakis

“

Expected Close

culminating in a deal that now awaits ratification by the Hellenic Parliament.

PARTIES MENTIONED IN SOURCE

C

Chevron developer

"U.S. energy giant Chevron"

H

HELLENiQ ENERGY developer

"Greece’s own HELLENiQ ENERGY"

H

Hellenic Republic null

"the Hellenic Republic has signed landmark concession agreements with U.S. energy giant Chevron and Greece’s own HELLENiQ ENERGY"

high quality Enriched Feb 19, 2026

Timeline

Announced

Feb 16, 2026

Signed

Closed

Counterparts (7)

Chevron representative (VP Global New Ventures)

Gavin Lewis is a firm specializing in executive search within the infrastructure sector. They focus ...

Developer

HELLENiQ ENERGY

HELLENiQ ENERGY is a Greek energy group involved in oil refining, exploration and production of hydr...

company · 1 deals

Chevron Corporation is an American multinational energy corporation. It is engaged in every aspect o...

Partner

Hellenic Petroleum

Hellenic Petroleum is an energy group in Southeastern Europe. It is involved in oil refining, explor...

grantor

Hellenic Republic

The Hellenic Republic, as a sovereign nation, focuses on developing and maintaining its national inf...

attending Prime Minister

Kyriakos Mitsotakis

Kyriakos Mitsotakis is the Prime Minister of Greece, and his government has been focused on investin...

Minister of Environment and Energy

Stavros Papastavrou

Stavros Papastavrou is a Greek infrastructure company focused on investing in and developing renewab...

Market Context

This deal is part of the Utilities sector in Greece.

65

Utilities deals

12

deals in Greece

Source

briefglance.com

1 of 65 Utilities deals tracked this month · Updated daily

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