Energean launches half-billion-euro plan for Prinos’ second life: up to 8,000 barrels of oil a day from the “Epsilon” deposit

Energean has activated its roughly half-a-billion-euro plan for the “second life” of Prinos in Kavala, through the development of the “Epsilon” deposit, as ProtoThema reports. The target is production of up to 8,000 barrels of oil per day, with a new platform and six production wells, accompanied by water and gas injection wells.

According to ProtoThema, peak production could reach 7,000 to 8,000 barrels per day for at least five years before natural decline begins. The plan comes at a moment when Prinos is at the end of its production cycle.

The development of this satellite deposit, ProtoThema writes, could keep the Nea Karvali facilities active, preserve technical expertise and jobs, giving Greek oil production continuity until 2040–2041.

The geological structure of “Epsilon” had been identified since the 1990s, while the deposit was discovered in 2000 with the first exploratory drilling, according to ProtoThema.