The Greek Deal.com
Interested in hydrocarbon exploration in Greece | TheGreekDeal.com
CHEVRON
Interested in hydrocarbon exploration in Greece
The US company Chevron, the world's second-largest private company active in the hydrocarbons sector, has expressed interest in exploration in the sea area southwest of the Peloponnese and west of Crete, which borders the marine plots of a corresponding tender in 2014.
Newsroom
TIME TO READ
2 min

The US company Chevron, the world's second-largest private company active in the hydrocarbons sector, has expressed interest in exploration in the sea area southwest of the Peloponnese and west of Crete, which borders the marine plots of a corresponding tender in 2014.

In a statement, the Ministry of Environment and Energy refers to a very important development, which is part of the national strategy for energy independence and reduction of energy costs, with parallel initiatives for increased protection of the marine environment.

The Ministry of Environment has accepted this expression of interest from the company and will proceed within the week to issue the relevant decision, which will provide for the exact area and the immediate launch of an international tender, while in the near future the spatial extension of the exploration will be evaluated.

At the same time, the Hellenic Hydrocarbons and Energy Resources Management Company (Hellenic Hydrocarbons and Energy Resources Management Company) is today submitting the relevant Strategic Environmental Impact Study.

Minister of Environment and Energy, Theo Skylakakis, said: "The investment interest of yet another world-class company, such as the American Chevron, underlines the confidence of the international investment community in the government of Kyriakos Mitsotakis, while it highlights once again Greece's potential to become a regional energy hub and ensure its energy independence. I would like to express my sincere thanks to the Managing Director of EDEYEP, Mr. Aristofanis Stefatos, and the Secretary General of the Natural Environment and Waters, Mr. Petros Varelidis, as well as to their teams, for their systematic and consistent work to achieve today's result.".

The natural gas we seek to identify and extract is a critical bridge fuel for Europe up to 2050 and for the rest of the planet beyond 2050. The exploitation of potential indigenous reserves is therefore of great energy, economic and social importance for an economically sustainable green transition.

Chevron's interest, combined with the fact that ExxonMobil is already active in our country, marks the simultaneous presence of two energy giants and reinforces the belief that Greece can play a leading role in the global energy market and confirms that our country is an attractive investment destination.

Moreover, it is another practical recognition of the strategy of the Greek Government, the Ministry of Environment and Energy, and the Hellenic Hydrocarbons and Energy Resources Management Company for the exploitation of our country's potential natural gas reserves, for the benefit of the country's energy independence and security, but also for the benefit of our national economy.

It is important that the above development takes place with parallel care in terms of environmental footprint so as to produce not only energy but also major environmental benefits for the country, the Ministry of Environment and Natural Resources points out in its statement.

Firstly, already licensed marine hydrocarbon exploration areas in the Ionian Sea are being released, which will expand spatially and make the Ionian Sea National Marine Park continuous in order to achieve its environmental objectives.

The relevant study, which is nearing completion, covers the marine area starting from Antikythera, covering a continuous maritime zone along the southern and western coast of the Peloponnese, up to Zakynthos, Kefalonia, Ithaca and Lefkada, and enclosing the environmentally important islands of Strophades. An agreement has already been reached with the leasing company for the release of the detached parts.

Secondly, in cooperation with the contractor company, the Katakolo concession concerning a small oil field near the west coast of the Peloponnese is to be released and included in the new National Marine Park," he added.

READ ALSO