Oil production at Prinos doubled to 3,000 barrels a day

9 January 2016
683 Views

Energean Oil & Gas has announced that following the completion of the first of fifteen planned oil wells in the Prinos area in the Gulf of Kavala, oil production has doubled to 3,000 barrels a day.

It is believed that there are 30 million barrels in the oil field in the Gulf of Kavala. About 200 million euros will be invested overall in the area to maximize production.

Further technical work to boost production will be carried out immediately at three older oil wells in the area, while the company is also evaluating the results of seismic surveys that were carried out over the summer.

The company’s president and managing director Mathios Rigas highlighted the importance of increasing production, in spite of the collapse of the price of oil and the overall financial difficulties in Greece.

 

You may be interested

Teleworking in Greece extended until December 31st
GREECE
shares8 views
GREECE
shares8 views

Teleworking in Greece extended until December 31st

Panos - Nov 30, 2020

Teleworking for businesses able to implement distance working due to Covid-19 has been extended until December 31st, Greek authorities have decided. The…

PM Mitsotakis: Covid-19 vaccine free for the public
GREECE
shares18 views
GREECE
shares18 views

PM Mitsotakis: Covid-19 vaccine free for the public

Panos - Nov 30, 2020

Prime Minister Kyriakos Mitsotakis said that the Covid-19 vaccine would be given to the public free of charge during his…

Impressive joint Geek-Egyptian navy exercise sends message (photos)
GREECE
shares17 views
GREECE
shares17 views

Impressive joint Geek-Egyptian navy exercise sends message (photos)

Panos - Nov 30, 2020

The Greek and Egyptian navies conducted joint exercises on Saturday in the wider sea area south of Karpathos. The PASSEX…

Leave a Comment

Your email address will not be published.