HELLENiQ ENERGY and Chevron Sign Offshore Concession Agreement for Hydrocarbon Exploration and Production with the Hellenic Republic

ATHENS, Greece HELLENIQ ENERGY, in collaboration with Chevronsigned today Leasing Agreements with the Hellenic Republic to explore four offshore blocks located south of Crete and the Peloponnese, marking an important milestone in the development of the Greek river.

The successful consortium, with Chevron having a 70% interest and being the Operator and HELLENiQ ENERGY with a 30% interest, was selected following an international competitive tender launched by the Greek State in 2025.

The four offshore blocks – South Crete 1, South Crete 2, South Peloponnese, and Block A2 – cover an area of ​​approximately 47,000 square kilometers. Under the terms of the Lease Agreements, the Joint Venture will undertake a three-phase testing program to help assess the hydrocarbon potential of the sites.

The target areas are in very deep waters – some more than 1,500 meters deep – with complex structures.

The signing ceremony took place in Athens where he is the Prime Minister of Greece, Kyriakos Mitsotakis and senior representatives from the Ministry of Environment and Energy, Chevron, and HELLENIQ ENERGY.

The parties signed were Minister of Environment and Energy, Stavros Papastavrou as well as CEO of Hellenic Hydrocarbons and Energy Resources Management (HEREMA), Aristofanis Stefatosrepresenting the Greek empire, while Chevron again HELLENIQ ENERGY they were represented Gavin Lewis, VP of Global New Venturesand with Andreas Shiamishis, Group CEOrespectively. The Lease Agreements are now subject to approval by the Hellenic Parliament.

HELLENIQ ENERGY is one of the leading integrated energy companies in Southeast Europe. Founded as HELLENIC PETROLEUM in 1998, with roots dating back to Greece’s first refinery in 1958, HELLENIQ ENERGY has grown to become the largest company in Greece and one of the largest in SE Europe, by annual revenue. By aggressively pursuing an ambitious transformation strategy, it has evolved into a regional energy leader and is currently present in 8 countries and with growing international operations, with a diverse portfolio covering the energy value chain.. HELLENIQ ENERGY is active in the production, supply and trading of all forms of energy, with a growing focus on clean and renewable energy. Its portfolio includes refining, supply and trading of oil and petrochemical products, exploration and production of hydrocarbons, and oil marketing, while rapidly expanding into the renewable energy business.

In addition, HELLENiQ ENERGY is developing an integrated Green Utility strategy business unit, following the 100% acquisition of Elpedison – now rebranded as Enerwave, a Greek power and gas company and logistics company. This new business unit will produce and supply energy -mainly from renewable sources- directly to the Greek market, delivering the Group’s commitment to a fair, affordable, and secure energy transition.

Headquartered in Athens, Greece, HELLENiQ ENERGY is listed on the Athens Exchange (ticker: ELPE), with a secondary listing on the London Stock Exchange (LSE: HLPD) for Global Depository Receipts (GDRs).

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