Chevron Secures Leases To Explore Four Blocks Offshore Greece

(RTTNews) - Chevron Corporation (CVX), through its four Dutch subsidiaries, together with HELLENiQ ENERGY Holdings S.A. (ELPE.AT), a Greek petroleum refiner, has inked lease deals with the Hellenic Republic to explore four blocks offshore Greece.

Under the terms, the consortium will complete 2D and 3D seismic exploration works in phase one of the leases to assess the hydrocarbon potential of the areas.

The blocks are located south of Crete and within the Peloponnese. 

The awarded consortium, in which Chevron holds a 70% operating interest and HELLENiQ a 30% interest, was selected after a tender  by the Greek government.