Major Oil Players Eye Greece’s Offshore Hydrocarbons

Following Chevron’s formal expression of interest in Greece’s offshore hydrocarbon reserves near Crete and the Peloponnese, other energy giants are reportedly exploring participation in the country’s ongoing international tender.

Greece has launched a new licensing round for hydrocarbon exploration, currently accepting bids for the leasing of three offshore blocks: “South of the Peloponnese,” “South of Crete I,” and “South of Crete II.” The tender was triggered by Chevron’s proposal, which was officially accepted by Environment and Energy Minister Stavros Papastavrou.

Broader Industry Interest Emerges

While none have yet made formal bids, insiders say it’s possible they may soon gain access to HEREMA’s data room containing seismic data for these regions, pending an official declaration of interest.
The deadline for bid submissions is set for September 10.

HELLENiQ ENERGY in Talks with Global Players

A few weeks ago, CEO of HELLENiQ ENERGY, disclosed that the Greek company is in talks with international firms about forming joint ventures for the tender. Market observers speculate that TotalEnergies, BP, and Eni could be among the groups negotiating with HELLENiQ.

It’s worth noting that TotalEnergies previously partnered with HELLENiQ and ExxonMobil in exploration projects off the western and southwestern coasts of Crete before exiting the Greek hydrocarbon scene about five years ago.

Regional Geopolitics and the Libyan Tender

Meanwhile, developments in Libya — including a parallel licensing round — have attracted industry interest, coinciding with disputes over Greece’s maritime claims near Crete.

Despite these tensions, TotalEnergies, BP, and Eni remain well-positioned in the region, with major operations in Egypt, Israel, and beyond.