1 minute16.02.2026
Signing of offshore concession agreements for hydrocarbon exploration and production
HELLENiQ ENERGY Holdings S.A. (the “Company”) announces that, its wholly-owned subsidiary HELLENiQ UPSTREAM Holdings S.A. (“HELLENiQ UPSTREAM”), in partnership with Chevron, has signed Lease Agreements with the Hellenic Republic concerning the exploration of four offshore blocks located south of Crete and the Peloponnese. This new concession agreement complements and consolidates the Company’s exploration & production portfolio in Greece.
The consortium, in which Chevron holds a 70% interest (operator) and HELLENiQ UPSTREAM holds a 30% interest, was selected following an international tender process launched by the Greek State in 2025.
The four offshore blocks - South Crete 1, South Crete 2, South of Peloponnese, and Block A2 - cover a total area of approximately 47,000 square kilometers.
Under the terms of the Lease Agreements, the Joint Venture will undertake a three-phase exploration program to help assess the hydrocarbon potential of the areas. The target areas lie in ultra-deepwater settings - some beyond 1,500 meters of sea depth - with complex geological structures.
The Lease Agreements are subject to ratification by the Hellenic Parliament.