The CEO of HELLENiQ ENERGY, Andreas Siamisis, announced the Group’s intention to participate in the international tender for hydrocarbon exploration in the offshore blocks applied for by Chevron.
Speaking both during the company’s annual general shareholders’ meeting and in a conversation with journalists on the sidelines, Siamisis stated, “If HELLENiQ ENERGY had to decide today on participating in the tender, it would do so.”
Searching for a Partner
According to Siamisis, HELLENiQ ENERGY is reviewing its participation in the tender, which was launched a few days ago with the publication of the call in the EU’s Official Journal.
It should be noted that bids must be submitted within 90 days from the date of publication in the EU Journal, making the deadline September 10.
Siamisis emphasized that HELLENiQ ENERGY is in the process of seeking one or more partners to participate in the international tender, citing the high exploration costs, technical know-how, and the specific challenges of conducting research in Greece’s deep-sea regions.
When asked whether the company would be partnering with Chevron or ExxonMobil—its current joint venture partner in hydrocarbon exploration and exploitation of the “West of Crete” and “Southwest of Crete” offshore blocks—Siamisis declined to answer, saying simply: “I can’t tell you.”
The Offshore Blocks
The offshore areas Chevron has requested exploration rights for include the blocks “South of the Peloponnese,” “South of Crete I,” and “South of Crete II.” HELLENiQ ENERGY has also expressed interest in the smaller “A2” offshore block, which borders the “South of the Peloponnese” block. Under existing Greek legislation, when interest is expressed in leasing hydrocarbon exploration and exploitation rights, an international tender must be launched.
It’s worth noting that Siamisis, even regarding the smaller “A2” block, implied the necessity of entering the tender with a partner.
ExxonMobil’s Decision
While there is momentum around the Chevron-related tender, progress on the blocks already leased by the ExxonMobil (operator) – HELLENiQ ENERGY joint venture appears to be slower. The long-awaited investment decision for the first exploratory drilling seems to be pushed further back. According to Siamisis, while the research studies have been completed, some of them still require additional processing and evaluation.
He indicated that any investment decision is likely to come in 2026, and did not rule out the need for new seismic surveys, particularly in the “Southwest of Crete” offshore block.
