Negotiations that will allow the board of Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) to submit the contract signed with Chevron and HelleniQ Energy for approval are to be completed in the coming days, Environment and Energy Minister Stavros Papastavrou said, speaking on ANT1 television on Thursday.

He noted that this development opens a new chapter for the country’s hydrocarbons sector.
As he explained, the process has reached its final stage. Specifically, he said that “ by the end of November the contract will be sent to the Court of Audit, then to Parliament, and immediately afterward, seismic and geophysical surveys will begin in 2026. Therefore, we will have Chevron and ExxonMobil, the two largest publicly listed oil companies in the world, operating in Greece. This means both a geostrategic strengthening of our country and hope for a significant increase in national wealth.”

Regarding the commitment for the first exploratory drilling by the ExxonMobil-Energean-HelleniQ Energy consortium within 18 months – meaning in early 2027 – in the Ionian Sea, Papastavrou stated: “ We must do everything humanly possible to be on time. This concerns the future of our children.” He also explained that “ if it is proven that there are commercially exploitable deposits, this will immediately mean an increase in national wealth, significant public revenues, new high-quality jobs with higher wages, and a boost to our energy security, beyond the geopolitical benefits.”