FightingIrish33
Sep 25, 11:59 AM
$CVX CVX reportedly plans to begin seismic research in blocks off Greece by the end of this year, marking an important step toward assessing the region's hydrocarbon potential. The energy major is expanding its offshore exploration footprint in Greece, strengthening its position in the Eastern Mediterranean.
Chevron has been steadily building its presence in Greece. Earlier this year, the company acquired a 70% stake from Helleniq Energy in an offshore block southwest of the Ionian Sea. A Chevron-led consortium also secured exclusive lease agreements to explore for natural gas across three additional deep-sea blocks off the Peloponnese and Crete.
Together, these areas span approximately 47,000 square kilometers, creating a sizable exploration position in the Eastern Mediterranean.
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