HELLENiQ ENERGY agrees extension of Chevron partnership in Block 10

Under the agreement, Chevron acquires a 70% participating interest in the concession while simultaneously assuming the role of Operator, while the Company retains a 30% stake.

Block 10 is currently in its second exploration phase, with geological and environmental studies completed, as well as two-dimensional (2D) and three-dimensional (3D) seismic surveys.

With this transaction, Chevron will now participate, alongside the Company, in five hydrocarbon exploration concessions in Greece, further strengthening the strategic partnership between the two companies and confirming its confidence in the prospects of Greece’s hydrocarbon exploration portfolio.