ExxonMobil Officially Enters Hydrocarbon Research in Ionian Sea

The Ministry of Environment and Energy (ΥΠΕΝ) has approved the entry of ExxonMobil into the consortium for hydrocarbon research in the Ionian Sea. Energean Hellas remains the Operator during the research period.

The agreement was signed on November 6, 2025, in Athens. According to the decision of Minister St. Papastavrou, ExxonMobil acquires a 60% share in the consortium. The new percentages are: ExxonMobil 60%, Energean Hellas 30%, HelleniQ Upstream West Corfu 10%.

In the event of a discovery, ExxonMobil will take over the management. The signing ceremony was attended by US Energy Ministers Chris Wright and Doug Burgum, as well as US Ambassador to Greece Kimberly Guilfoyle.