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Chevron expands Mediterranean activities with exploration offshore Malta
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Chevron expands Mediterranean activities with exploration offshore Malta

Published by Global Banking & Finance Review

Posted on May 5, 2026

1 min read

· Last updated: May 5, 2026

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Chevron Launches New Oil and Gas Exploration Offshore Malta in the Mediterranean

Chevron's Mediterranean Exploration Initiatives

LONDON, May 5 (Reuters) - Chevron said on Tuesday it would search for oil and gas south of Malta, which lies between producing Mediterranean nations Libya, Italy and Tunisia but has not got any production itself yet.

Exploration Strategy and Approach

Data-Driven Exploration

• Exploration studies will be based on existing data rather than newly drilled wells

Chevron's Existing Mediterranean Portfolio

Key Operating Stakes

• Chevron's portfolio in the Mediterranean includes operating stakes in Israel's Leviathan and Tamar gas fields and the Aphrodite field being developed offshore Cyprus

Additional Exploration Blocks

• Chevron also has exploration blocks offshore Greece and Egypt

Competitive Landscape

ExxonMobil's Expansion

• U.S. rival Exxon has also been expanding its portfolio in the Mediterranean

Industry Reporting

(Reporting by Shadia Nasralla, Editing by Louise Heavens)

Key Takeaways

  • Chevron awarded exploration study licence for Areas 1, 4, 5 and 7 south of Malta—a no‑drill, desktop study phase using existing seismic and geological data (independent.com.mt)
  • The move complements Chevron’s Mediterranean portfolio, which includes producing gas fields offshore Israel (Leviathan, Tamar), development projects (Aphrodite in Cyprus), exploration blocks in Greece, and activities in Egypt (worldoil.com)
  • Chevron continues regional expansion amid competitors like Exxon expanding similarly—the Malta agreement deepens its Eastern Mediterranean strategic positioning (independent.com.mt)

References

Frequently Asked Questions

What recent activity has Chevron announced in the Mediterranean?
Chevron will conduct oil and gas exploration studies south of Malta using existing geological data.
Does Malta currently produce oil or gas?
No, Malta does not currently have any oil or gas production.
Which other Mediterranean countries are involved in oil and gas production?
Libya, Italy, and Tunisia are nearby Mediterranean nations with oil and gas production.
What other Mediterranean assets does Chevron have?
Chevron has operating stakes in Israel’s Leviathan and Tamar gas fields, Cyprus's Aphrodite field, and exploration blocks in Greece and Egypt.
Are other companies expanding in Mediterranean oil and gas?
Yes, U.S. rival Exxon is also expanding its portfolio in the Mediterranean region.

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