Chevron Eyes Crete: New Hydrocarbons Exploration in Mediterranean

U.S. oil giant Chevron is showing interest in exploring hydrocarbons off Crete's coast in the Mediterranean. The Greek energy ministry has acknowledged this interest and plans to finalize block coordinates, launching an international tender. A new tender for gas exploration rights south of the Peloponnese follows Chevron's proposals.

Chevron, an American oil producer, has expressed interest in exploring for hydrocarbons off the coast of Crete, according to a recent statement by the Greek energy ministry.

The ministry confirmed that it has acknowledged Chevron's interest in two blocks located south of Crete and is preparing to determine the precise coordinates, paving the way for an international tender. This comes as Greece launches a new tender for gas exploration rights at another deep-sea block south of Peloponnese, prompted by Chevron's expression of interest.

The development signals a potential expansion of Chevron's operations in the Mediterranean region, contributing to Greece's efforts to revitalize its energy sector through strategic partnerships.

(With inputs from agencies.)