Chevron acquires 70% stake in Greek offshore Block 10 exploration
On June 16, 2026, Chevron acquired a 70% stake and operatorship of Block 10, an offshore exploration concession in Greece’s Southern Ionian Sea (Kyparissiakos Gulf) from HELLENiQ ENERGY, which retains 30%. The block is in its second exploration phase with seismic surveys completed. This is the fifth joint venture between the companies in Greece, signaling increased industry confidence in the Eastern Mediterranean’s energy potential.
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Chevron Expands into Offshore Greece with Block 10 Acquisition
On June 16, 2026, Chevron Corporation and HELLENiQ ENERGY announced an agreement for Chevron to acquire a 70% participating interest and operatorship of Block 10, an offshore concession in the Kyparissiakos Gulf in Greece's Southern Ionian Sea. HELLENiQ ENERGY will retain a 30% stake. The partnership expands Chevron's presence in the Eastern Mediterranean, reflecting confidence in the region's exploration potential. Block 10 is in its second exploration phase, with 2D and 3D seismic studies completed, supporting potential future drilling. Additionally, Chevron appointed Scott Keller as general counsel effective July 1, succeeding current Chief Legal Officer R. Hewitt Pate upon his planned retirement in mid-2027. The article also positions Chevron among promising hydrogen and fuel cell stocks, referencing analyst upside potential of 26.64%.
Yahoo FinanceHelleniQ Energy to Grant Chevron 70% Interest in Block 10 Offshore Concession
On June 16, 2026, HelleniQ Energy signed an agreement to grant Chevron Corporation a 70% interest in the Block 10 offshore concession located in the Kyparissiakos Gulf, Greece. Under the deal, HelleniQ Energy retains a 30% stake while Chevron assumes operatorship, leveraging its deepwater exploration expertise. This marks the fifth joint offshore concession between the two companies in Greece, following prior collaborations south of Crete and the Peloponnese. Block 10 is currently in the second phase of its exploration program, with 2D and 3D seismic surveys already completed that provide critical geological insights. Both companies underscored that this agreement strengthens their strategic alignment in the Mediterranean, a key growth area for Chevron's global exploration portfolio. Future plans include further technical analysis to guide drilling decisions in this frontier territory.
Yahoo FinanceChevron Expands Footprint in Greek Offshore Sector
Chevron Corporation has expanded its offshore exploration presence in the Mediterranean by acquiring a 70% participating interest in Block 10 from Greek energy company HELLENiQ ENERGY. This marks Chevron's fifth offshore venture with HELLENiQ in Greece. Block 10 is currently in its second exploration phase, with 2D and 3D seismic studies already completed. The companies will now focus on technical assessments and identifying potential drilling locations. Chevron's Director of Exploration for the Middle East and North Africa, Andrew Deighan, highlighted the milestone as part of the company's momentum in the Mediterranean region, an area targeted for portfolio expansion. The deal reinforces Chevron's commitment to frontier exploration in Greek waters.
Yahoo FinanceChevron Acquires 70% Stake in Greek Offshore Exploration Block 10
Chevron has agreed to acquire a 70% participating interest in Block 10, an offshore exploration concession in the Southern Ionian Sea off Greece, from HELLENiQ ENERGY. The block, located in the Kyparissiakos Gulf, is in its second exploration phase with 2D and 3D seismic surveys already completed. Chevron will become the operator, leveraging its deepwater expertise. HELLENiQ ENERGY retains a 30% stake. The deal expands the partnership between the two companies to five offshore concessions in Greece. HELLENiQ ENERGY CEO Andreas Shiamishis said the entry aligns interests and creates operational synergies. Chevron's Director of Exploration for the Middle East and North Africa, Andrew Deighan, cited significant potential in the frontier area. The move reflects growing industry confidence in Greece's underexplored offshore basins and Eastern Mediterranean energy potential.
Yahoo FinanceChevron Acquires 70% Stake in Greek Offshore Exploration Block 10
Chevron has agreed to acquire a 70% participating interest in Block 10, an offshore exploration concession in the Southern Ionian Sea off Greece, from HELLENiQ ENERGY. The deal, announced on June 16, 2026, makes Chevron the operator of the block, which is located in the Kyparissiakos Gulf and is currently in its second exploration phase with 2D and 3D seismic surveys already completed. HELLENiQ ENERGY will retain a 30% stake. The partnership now covers five offshore concessions in Greece. Chevron's entry is seen as a milestone in expanding its Mediterranean exploration portfolio, reflecting growing industry confidence in Greece's underexplored offshore basins and the broader Eastern Mediterranean energy potential. The companies will focus on further technical evaluation and identifying potential drilling targets.
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