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

9 January 2016
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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.

 

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