Chevron to Start Seismic Research in Greek Waters by Year-End

Energy giant Chevron is set to begin seismic research in Greek waters by the end of this year, according to the Greek energy ministry. The research will take place in the Ionian Sea and south of Peloponnese and Crete.

Chevron's Country Manager Beatrice Bienvenu confirmed the plans during a meeting with Greek Energy Minister Stavros Papastavrou in New York. The company recently acquired a 70% stake from Helleniq Energy in an offshore block southwest of the Ionian Sea.

A Chevron-led consortium has also secured exclusive lease agreements to search for gas in three deep-sea blocks off the Peloponnese and Crete. Seismic exploration work is the first step towards assessing hydrocarbon potential before any decision can be taken on test drilling.