Greece Launches Ionian Sea Hydrocarbon Tender: Chevron & HELLENiQ Energy Express Interest
Athens, Greece – In a move to bolster its energy security and explore potential natural gas reserves, Greece has officially launched an international tender for hydrocarbon research and exploitation rights in the Ionian Sea. The tender focuses on the maritime areas designated as “A2” and “South of the Peloponnese” located in the southern Ionian Sea region.
The initiative follows expressions of interest from major energy players Chevron (USA) and HELLENiQ Energy (formerly Hellenic Petroleum) in these specific areas. The Ministry of Environment and Energy has accepted this interest, paving the way for the launch of the competitive bidding process.
The Hellenic Hydrocarbon Resources Management Company (HEREMA) has issued the tender notice, which has been approved by the Minister of Environment and Energy, Theodoros Skylakakis. The announcement will be published in the Government Gazette and the Official Journal of the European Union. The deadline for submitting bids is 90 days from the date of publication in the Official Journal of the European Union.
Energy Minister Skylakakis signed the decision on January 23rd, defining the precise boundaries of the marine areas to be granted for hydrocarbon research and exploitation.
“This is a very important development in the direction of our country’s energy security, as it strengthens the effort to explore the existence of significant natural gas deposits, which is the transitional fuel for the energy transition, a field where Greece is a pioneer,” stated Minister Theodoros Skylakakis. “In addition, the interest of giants in the hydrocarbon sector – first ExxonMobil and now Chevron – demonstrates the fact that our country is developing into an attractive destination for significant energy investments.”
This tender marks a significant step in Greece’s strategy to diversify its energy sources and potentially tap into its own natural gas reserves, positioning itself as a key player in the regional energy landscape. The exploration for natural gas is considered a bridge fuel in the ongoing energy transition towards cleaner energy sources. The presence of companies like Chevron and HELLENiQ Energy underscores Greece’s growing attractiveness for energy investments.