U.S. oil major Chevron has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece’s Hellenic Energy, Greece’s Energy Minister Stavros Papastavrou said on Wednesday.

The country launched the tender this year after Chevron and oil refiner Hellenic Energy expressed interest in four deep-sea blocks off the Peloponnese peninsula and the island of Crete.

The deadline for bids was at 1700 (1400 GMT) on Wednesday.

Greece, which produces very small volumes of oil, has ramped up renewables output in recent years but still relies heavily on gas for power generation. The country aims to tap domestic resources as part of a European Union push to shift away from Russian energy after Moscow invaded Ukraine.

Major gas finds off Egypt, which lies south of Crete, have sparked hopes that Greek waters could also contain significant gas reserves.
Source: Reuters