Chevron Submits Request for Participation in Area 10 Concession in the Southern Ionian Sea

Macro/Political:

• The Ministry of Environment and Energy announced that Chevron and Helleniq Energy have submitted a request for Chevron’s participation in the Area 10 concession, located offshore in the Kyparissiakos Gulf in the Southern Ionian Sea. The application concerns Chevron’s acquisition of a 70% stake from Helleniq Energy, which currently holds 100% of the concession rights. Upon completion of the relevant process and subject to the necessary approvals, the concession ownership structure will be 70% for Chevron and 30% for Helleniq Energy, with Chevron serving as the operator of the project.
  Source: Ministry of Environment & Energy

• In February 2026, the number of issued building permits in Greece amounted to 2,240 (5.7%, y-o-y). In the last twelve months from March 2025-February 2026, Total Building Activity (private public) in Greece recorded a 1.9% increase in the number of issued building permits, compared to the corresponding period of the previous year.
  Source: ELSTAT

• According to the IMF, Greece continues to face significant headwinds from the energy price shock stemming from the conflict in the Middle East, although strong investment activity and structural reforms under the Next Generation EU framework are supporting economic growth. The Fund also noted that recent reforms aimed at reducing tax evasion have broadened the tax base and reduced informality, creating fiscal space to support household disposable income while ensuring a rapid reduction in public debt.
  Source: IMF