Chevron seeks drilling ship to expand East Med gas search

Chevron (CVX.N) is seeking a drilling ship to explore for natural gas off Cyprus, Egypt and Israel as the U.S. energy major looks to meet growing demand in the region and Europe, two sources told Reuters.

Chevron, which operates in the three eastern Mediterranean countries, issued a lease tender on Monday seeking a drilling vessel in 2024 for a year with an option to extend for several years, the sources said.

A Chevron spokesperson declined to comment on the tender, but said the company "remains committed to working together with the governments of Egypt, Israel and Cyprus and our partners in the region to support the growth of the East Mediterranean energy sector.

"The Eastern Mediterranean has abundant energy resources and the potential to enhance energy security regionally and internationally."

Energy companies have sought to develop new resources to meet growing demand from Europe since Moscow's invasion of Ukraine in Feb. 2022 prompted a move away from Russian energy.