Based on the agreement, Chevron will acquire a 70% participating interest in the concession as Operator, while the Company will retain a 30% share. Block 10 is currently in its second exploration phase, with geological and environmental studies as well as the acquisition of 2D and 3D seismic data having been completed.
Following this transaction, Chevron will participate, together with the Company, in five hydrocarbon exploration concessions in Greece, further strengthening the strategic partnership between the two companies and reaffirming its confidence in the prospects of Greece’s hydrocarbon exploration portfolio.