Greece is placing high stakes on attracting at least one major
Greece is placing high stakes on attracting at least one major US oil company to upcoming hydrocarbon exploration projects south of Crete, in what officials see as a turning point for both the country’s energy strategy and regional geopolitics.
The tender, covering the offshore blocks “Crete-1” and “Crete-2,” closes on September 10–11. While the Ministry of Environment has kept silent on potential outcomes, sources say American interest is considered certain — either from Chevron, ExxonMobil in partnership with Hellenic Energy, or possibly both. Any other result, officials stress, would be regarded as a serious setback after more than 15 years of preparation.
Athens views US involvement as a strong counterweight to the Turkey-Libya maritime deal, which challenges Greek claims to an exclusive economic zone (EEZ) around islands. Senior officials argue that the participation of American energy companies would effectively render that agreement irrelevant, even if legal experts caution that sovereign rights are established only through bilateral accords.
Foreign Minister Giorgos Gerapetritis has described potential US activity as a “major success for Greek diplomacy,” while analysts note Ankara is unlikely to stand aside. Turkey has already signaled objections through Libyan channels and has previously disrupted energy initiatives in the region, including Greece–Cyprus electricity cable
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