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(Reuters) – U.S. oil main Chevron has submitted a bid in partnership with Helleniq Power to probe for pure gasoline throughout 4 offshore blocks in Greece, Power Minister Stavros Papastavrou confirmed Wednesday.
The tender, launched earlier this yr, contains deepwater acreage off the Peloponnese peninsula and the island of Crete. The consortium’s bid was filed forward of Wednesday’s deadline.
In response to Reuters, a Chevron spokesperson stated the corporate sees the Jap Mediterranean as a key progress area: “Chevron has a big and vital place within the Jap Mediterranean, a area which could be very a lot part of our future and a precedence for us.”
Greece, which at the moment produces solely small volumes of oil, is working to broaden home pure gasoline assets to scale back reliance on imports. Whereas renewables have elevated in recent times, gasoline stays crucial to the nation’s energy technology combine. The exploration push additionally aligns with the European Union’s technique to diversify provide and scale back dependence on Russian power following the invasion of Ukraine.
Main gasoline discoveries off Egypt in recent times have raised expectations that Greek waters may additionally maintain important reserves. The Cretan blocks lie adjoining to acreage licensed to an ExxonMobil-led consortium, which is conducting seismic surveys earlier than making drilling selections.
If awarded, Chevron’s participation would strengthen its place within the area’s evolving offshore gasoline exploration sector whereas supporting Greece’s long-term power safety objectives.
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