Chevron Doubles Down on Greek Gas Amid Mediterranean Tensions

The American energy giant Chevron has reiterated its strong interest in Greece’s hydrocarbon reserves and the broader natural gas prospects of the Eastern Mediterranean. Speaking to TO BHMA, the U.S. energy giant emphasized its ongoing commitment to the region, even amid rising geopolitical tensions sparked by Libya’s challenge to Greece’s maritime claims.

Active Presence, Ongoing Interest

“Chevron confirms that it has submitted a non-binding expression of interest to the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) for three available offshore blocks,” said Sally Jones, Senior Advisor for International Affairs at Chevron, responsible for Eurasia, Europe, and the Middle East.

She added: “Chevron maintains a strong and meaningful presence in the Eastern Mediterranean, a region that represents a core priority and an essential part of our future.”

Through this statement, the world’s second-largest upstream oil and gas company signaled its strategic engagement in the region and expressed geological interest in the potential natural gas fields located off the Greek coasts.

Eyes on Greece’s Offshore Blocks

Chevron has confirmed interest in three offshore areas—Ionian Sea and south of Crete—signaling plans to join Greece’s upcoming licensing round. After initial interest in one block in January 2025, the company added two more in March.

Greece’s energy minister swiftly approved the move, launching a formal tender including a fourth block sought by HELLENiQ ENERGY. The bidding deadline is September 10, 2025.

Libya’s Diplomatic Push and Athens’ Response

Tensions in the region were heightened after Libya submitted a diplomatic note to the UN, accompanied by a maritime map that disputes Greece’s offshore licensing areas. The Libyan claims extend into two blocks where Chevron has expressed interest, as well as two other blocks—“West of Crete” and “Southwest of Crete”—already under license to the ExxonMobil–HELLENiQ ENERGY consortium.

Minister Papastavrou dismissed Libya’s claims, stating that the maritime zoning map published by the administration of Field Marshal Khalifa Haftar contradicts the designated Greek offshore areas included in the tender. Greek authorities argue that the boundaries of the offshore blocks were drawn based on the median line principle between the two countries.

Greek officials interpret Libya’s diplomatic move as an attempt to “stir the waters,” with some suggesting it may be driven by Ankara’s agenda.

Competition Heats Up

That strategy may have some traction, as reports indicate growing informal interest from other oil companies in the Greek tender. BP and Eni are reportedly preparing to request seismic data from HEREMA, signaling potential formal participation.

Meanwhile, Libyan officials have reportedly visited Houston, Texas, as part of their own promotional campaign, holding high-level meetings with American oil executives in a bid to attract investment in their own offshore prospects.

Washington–Athens Energy Alliance

Amid Libya’s maritime challenges, Greece is deepening its energy ties with Chevron and the broader U.S. sector. The country’s energy minister recently spoke with Chevron VP Liz Schwarze to discuss exploration plans.

This follows high-level meetings in the U.S. and precedes a key visit by U.S. Energy Secretary Chris Wright to Athens for the P-TECC summit on November 6–7, underscoring Greece’s strategic role in the region.