Marking a New Milestone in HELLENiQ ENERGY's Upstream Portfolio
HELLENiQ ENERGY in collaboration with Chevron, signed today the Lease Agreements with the Hellenic Republic for the exploration of four offshore blocks located south of Crete and the Peloponnese, marking a significant milestone for Greece's upstream development.
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Snapshot from the signing of the lease agreements at the Maximos Mansion, attended by Prime Minister Kyriakos Mitsotakis. From left: Stavros Papastavrou, Minister of Environment and Energy; Andreas Shiamishis, CEO of HELLENiQ ENERGY; Gavin Lewis, VP Global New Ventures at Chevron; and Aristofanis Stefatos, CEO of HEREMA
The successful consortium, with Chevron at 70% interest and being the Operator and HELLENiQ ENERGY at 30% interest, was selected following a competitive international tender 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.
Andreas Shiamishis, CEO of HELLENiQ ENERGY, commented:
"This new concession agreement represents a strategically important step in HELLENiQ ENERGY's long-term growth strategy and the further diversification of our portfolio. While investing in the energy transition, we recognize that hydrocarbons will continue to play a critical role in ensuring security of supply for many years to come.
Our participation in offshore exploration reflects a value-driven approach, focused on selective investments and partnerships that combine scale, technical excellence and deep industry experience. The collaboration with Chevron, one of the world's leading energy companies, significantly strengthens this effort and underlines the importance we place on working alongside partners with proven expertise in complex offshore environments."
Gavin Lewis, Chevron's Vice President, Global New Ventures, stated:
"We look forward to working with our partners HELLENiQ ENERGY and the Hellenic Republic to evaluate the hydrocarbon potential of these frontier areas. With our expertise in developing oil and gas projects worldwide, Chevron has the resources, experience, and technology to advance and unlock new energy supplies in this frontier region."
The signing ceremony took place in Athens in the presence of the Prime Minister of Greece, Kyriakos Mitsotakis and senior representatives from the Ministry of Environment and Energy, Chevron, and HELLENiQ ENERGY.
Signatory parties were the Minister of Environment and Energy, Stavros Papastavrou and the CEO of Hellenic Hydrocarbons and Energy Resources Management company (HEREMA), Aristofanis Stefatos, representing the Greek state, while Chevron and HELLENiQ ENERGY were represented by Gavin Lewis, VP of Global New Ventures, and by Andreas Shiamishis, Group CEO, respectively
The Lease Agreements are now subject to ratification by the Hellenic Parliament.
About HELLENiQ ENERGY
HELLENiQ ENERGY is one of the leading integrated energy companies in Southeast Europe. Established as HELLENIC PETROLEUM in 1998, with roots dating back to Greece's first refinery in 1958, HELLENiQ ENERGY has grown to become Greece's largest company and one of the biggest in SE Europe, by annual revenue. Vigorously pursuing an ambitious transformation strategy, it has evolved into a regional energy leader and currently has presence in 8 countries and growing international operations, with a diversified portfolio spanning across the energy value chain
HELLENiQ ENERGY is active in the production, supply and trading of all types of energy, with an increasing focus in clean energy and renewables. Its portfolio includes refining, supply and trading of oil and petrochemical products, hydrocarbons exploration and production, as well as fuels marketing, while growing fast in the renewable energy business.
Moreover, HELLENiQ ENERGY is developing an integrated Green Utility strategic business unit, following the 100% acquisition of Elpedison now rebranded to Enerwave, a Greek power and gas generation and supply company. This new business unit will produce and supply energy -primarily from renewables- directly to the Greek market, delivering on the Group's commitment to a just, affordable, and secure energy transition.
Headquartered in Athens, Greece, HELLENiQ ENERGY is listed on the Athens Exchange (ticker: ELPE), with a secondary listing on the London Stock Exchange (LSE: HLPD) through Global Depository Receipts (GDRs).
www.helleniqenergy.gr
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Contacts:
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