Greece names Chevron, Helleniq Energy consortium as preferred bidder for offshore gas search

ATHENS (Reuters) -Greece has named a consortium of U.S. oil major Chevron and Helleniq Energy, the country's biggest oil refiner, as preferred bidder for gas exploration in southern offshore blocks, the Greek energy ministry said on Friday. The move comes after Chevron and Helleniq submitted a joint bid in a Greek tender this year to look for gas in four deep-sea blocks off the Peloponnese peninsula and the island of Crete. Greece, which produces very small volumes of oil and relies on hefty gas imports for power generation and domestic consumption, has been keen to explore for gas and bolster its role as a gas transit route as the European Union aims to phase out Russian energy after Moscow invaded Ukraine. Greece was now expected to invite the two companies to work together to finalise the draft contracts, the energy ministry said in a statement. The country has said that the contracts will then need approval from a Greek court of auditors and parliament before the consortium can start seismic research in 2026. It has up to five years to locate potential recoverable deposits and any eventual test drilling would not come before the 2030-2032 period. (Reporting by Angeliki Koutantou, Editing by Louise Heavens)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)