ATHENS, Greece - Tuesday, 17. February 2026
Marking a New Milestone in HELLENiQ ENERGY’s Upstream Portfolio
(BUSINESS
WIRE)--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.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20260216381183/en/
Permalink
https://www.aetoswire.com/en/news/1702202653340
Contacts
HelleniQEnergy@secnewgate.co.uk
No comments:
Post a Comment