HELLENiQ ENERGY and Chevron Signal Offshore Concession Agreements for Hydrocarbon Exploration and Manufacturing with the Hellenic Republic

ATHENS, Greece — HELLENiQ ENERGY, in collaboration with Chevron, signed as we speak the Lease Agreements with the Hellenic Republic for the exploration of 4 offshore blocks positioned south of Crete and the Peloponnese, marking a major milestone for Greece’s upstream growth.

The profitable consortium, with Chevron at 70% curiosity and being the Operator and HELLENiQ ENERGY at 30% curiosity, was chosen following a aggressive worldwide tender launched by the Greek State in 2025.

The 4 offshore blocks – South Crete 1, South Crete 2, South of Peloponnese, and Block A2 – cowl a complete space of roughly 47,000 sq. kilometers. Underneath the phrases of the Lease Agreements, the Joint Enterprise will undertake a three-phase exploration program to assist assess the hydrocarbon potential of the areas.

The goal areas lie in ultra-deepwater settings – some past 1,500 meters of sea depth – with advanced geological constructions.

The signing ceremony befell in Athens within the presence of the Prime Minister of Greece, Kyriakos Mitsotakis and senior representatives from the Ministry of Surroundings and Power, Chevron, and HELLENiQ ENERGY.

Signatory events have been the Minister of Surroundings and Power, Stavros Papastavrou and the CEO of Hellenic Hydrocarbons and Power Sources Administration firm (HEREMA), Aristofanis Stefatos, representing the Greek state, whereas Chevron and HELLENiQ ENERGY have been represented by Gavin Lewis, VP of International New Ventures, and by Andreas Shiamishis, Group CEO, respectively. The Lease Agreements at the moment are topic to ratification by the Hellenic Parliament.

HELLENiQ ENERGY is among the main built-in power corporations in Southeast Europe. Established as HELLENIC PETROLEUM in 1998, with roots courting again to Greece’s first refinery in 1958, HELLENiQ ENERGY has grown to develop into Greece’s largest firm and one of many greatest in SE Europe, by annual income. Vigorously pursuing an formidable transformation technique, it has advanced right into a regional power chief and at the moment has presence in 8 international locations and rising worldwide operations, with a diversified portfolio spanning throughout the power worth chain. HELLENiQ ENERGY is lively within the manufacturing, provide and buying and selling of all varieties of power, with an rising focus in clear power and renewables. Its portfolio consists of refining, provide and buying and selling of oil and petrochemical merchandise, hydrocarbons exploration and manufacturing, in addition to fuels advertising, whereas rising quick within the renewable power enterprise.

Furthermore, HELLENiQ ENERGY is creating an built-in Inexperienced Utility strategic enterprise unit, following the 100% acquisition of Elpedison – now rebranded to Enerwave, a Greek energy and fuel technology and provide firm. This new enterprise unit will produce and provide power -primarily from renewables- on to the Greek market, delivering on the Group’s dedication to a simply, inexpensive, and safe power transition.

Headquartered in Athens, Greece, HELLENiQ ENERGY is listed on the Athens Trade (ticker: ELPE), with a secondary itemizing on the London Inventory Trade (LSE: HLPD) by International Depository Receipts (GDRs).

https://www.businesswire.com/information/dwelling/20260216381183/en/