Chevron Set to Start Seismic Surveys Offshore Greece in 2026

(Credit: Chevron)

Chevron plans to begin seismic surveys in Greek waters before the end of 2026, covering areas in the Ionian Sea and south of the Peloponnese and Crete, Greece's energy ministry said.

The timetable was confirmed during a meeting between Greek Environment and Energy Minister Stavros Papastavrou and Chevron's head for Greece, Beatrice Bienvenu.

The two discussed the next steps needed to keep the exploration program on schedule, with the ministry saying work would proceed in accordance with environmental and safety requirements.

The planned surveys follow the signing in February of exclusive lease agreements under which a Chevron-led consortium will explore four deep-sea blocks south of the Peloponnese and Crete covering about 47,000 square kilometers.

Chevron and Helleniq Energy had won the acreage in an international tender, with Chevron leading the exploration programme.

Chevron has also moved to expand its position farther west. Greece in June approved its request to take over a 70% interest from Helleniq Energy in an offshore block southwest of the Ionian Sea and become its operator, with Helleniq retaining 30%.

Greece has revived offshore gas exploration in recent years as it seeks potential domestic resources while developing its role as a gateway for gas supplies into Europe.

The Chevron-led consortium has up to five years to identify potentially recoverable resources in the four southern blocks, while any exploratory drilling is not expected before 2030-2032.