US energy giant Chevron is set to launch its first exploratory drilling for hydrocarbons south of Crete in 2026, Environment and Energy Minister Stavros Papastavrou said on Monday.
“This depends on the company’s scheduling, but I believe that if we move forward with the procedures within the year, we will see the first drilling in 2026,” the minister said on Action24 TV.
Papastavrou discussed energy cooperation with US Interior Secretary Doug Burgum, who also chairs the National Energy Dominance Council. Their talks focused on Greece-US strategic ties and recent developments in energy projects, including Chevron’s interest in offshore blocks “South Crete I” and “South Crete II.”
The US council, established by an executive order from President Donald Trump in February, includes top cabinet officials handling foreign affairs, defense, energy and economic policy. “This is a significant development that strengthens our bilateral relations,” Papastavrou said, adding that Greece aims to finalize agreements and select contractors within 2025.
The acceptance of Chevron’s interest has a multidimensional impact, he stated, explaining, “It is not only an energy and economic matter but also a geopolitical one, representing a positive development for the country’s sovereign rights and national interests.”
The Greece-Cyprus-Israel power interconnection project was also discussed. Though Papastavrou was tight-lipped on specifics, sources suggest ongoing coordination with Israel and France, particularly regarding Nexans’ undersea cable operations. The agreement carries geopolitical significance, Papastavrou noted, highlighting its impact beyond energy and economics, extending to national sovereignty and regional stability.
(ekathimerini.com, April 1, 2025)
