A joint venture involving ExxonMobil and Total has contacted the Greek Government to express an interest in exploring two blocks off Crete.
Hellenic Petroleum, the other partner, said the consortium had submitted an official notification of interest to the country’s Energy Ministry.
Greece offered 20 blocks in the Ionian Sea and south of Crete in 2014 but only three were taken up.
But recent large gas finds in the eastern Mediterranean have convinced Greece to develop and ambitious oil exploration programme.
Hellenic president Efstathios Tsotsoros said: “If indeed the existence of exploitable Hydrocarbons is verified, it is certain that our country will enter a new era, with obvious benefits for the national economy and the local communities, and will contribute to the geopolitical and energy upgrade of Greece.”