Greece is preparing to open a tender for offshore oil and gas exploration in the waters south of Crete by the end of April, Energy Minister Stavros Papastavrou announced at the 10th Delphi Economic Forum. The move follows a formal expression of interest from U.S.-based energy giant Chevron.
Minister Papastavrou stated that the first government decision regarding Chevron’s proposal was finalized last week, with a second expected to be signed by the end of this week. Once completed, the tender will be made public, inviting bids from interested parties through August. The government aims to review and approve the resulting contract in Parliament before the end of the year.
He stressed that the designated exploration area lies fully within Greek territorial waters and does not intersect with maritime zones disputed by Turkey, thus minimizing the potential for legal disputes. The Minister highlighted that Chevron’s interest stems from thorough geological and geopolitical assessments, which underscored the area’s potential for energy development.