Chevron’s here and must stay

Chevron’s authoritative beingness successful the tender for the 4 caller concessions south of the Peloponnese and Crete is reasonably recorded arsenic a archetypal strategic victory for Greece against the efforts of Turkey and its allies successful Libya to nutrient a fait accompli successful the Eastern Mediterranean region.

By submitting the bid, Chevron acknowledges Greece’s sovereign rights successful the country and the median enactment arsenic the borderline betwixt Greece and Libya, and successful signifier rejects the memorandum signed by Turkey with the Tripoli rulers and the communicative of the “Blue Homeland.”

Combined with ExxonMobil’s beingness successful two blocks disconnected Crete since 2019, Greece has each crushed to beryllium satisfied with the result of the tender.

The information of the world’s two largest lipid companies successful the Greek marketplace strengthens the country’s determination presumption and serves US strategic interests, arsenic the portion becomes progressively important for supplying Europe with energy.

Chevron’s interest, beyond its geopolitical dimension, will beryllium a milestone and will mostly find the people of the nationalist hydrocarbon exploration and exploitation program, which was restarted successful the midst of an vigor situation successful April '22 and with the ambitious extremity of having the archetypal drillship participate the “Ioannina” artifact disconnected Western Greece successful 2023 and the Cretan blocks successful 2025 by ExxonMobil. However, the docket was not met. The situation present is for Greece to take vantage of the affirmative momentum of the strength of contention successful the Eastern Mediterranean portion to behaviour the indispensable exploratory drilling that will corroborate oregon not the indications of the beingness of ample earthy state deposits.

ExxonMobil, which had initially planned exploratory drilling disconnected Crete successful 2025, has postponed it to 2027. Chevron’s introduction into the Greek marketplace is expected to strengthen contention and motivate different investors to accelerate probe programs and start the archetypal drills. In the coming play Greece should springiness a strong awesome of determination to the companies participating successful the Greek programme and Chevron, which is connected the way, so that this momentum is not lost.