Greek Minister of Environment and Energy, Stavros Papastavrou, has stated that the contracts signed between the Greek government and the Chevron – Helleniq Energy consortium signify the end of initial discussions and negotiations and the start of a new chapter focused on hydrocarbon exploration. He revealed that the agreements for four designated blocks will be submitted for approval in Parliament in March, paving the way for exploration activities to begin in the second half of 2026.

Papastavrou emphasized that the recent contracts mark a significant step forward for Greece, enhancing the nation’s confidence and strength both economically and geopolitically. He highlighted that with Chevron, the second-largest energy company in the world, undertaking research in four blocks south of Crete and Peloponnese, Greece solidifies its position and taken steps toward energy independence.

The minister's remarks point to the broader implications of these agreements, suggesting not only an economic boost but also an increase in geopolitical clout for Greece as it collaborates with a major industry player. The decision to pursue hydrocarbon exploration reflects a critical strategy for the country’s energy future and its efforts to augment domestic resources amidst global energy dynamics.