The third oil deposit exploited in Greek territory commenced production on April 1, and specifically at the Epsilon deposit in the Gulf of Kavala, off northern Greece, according to an announcement on Monday by Athens-based Energean.
Despite decades of speculation, lofty official pronouncements and optimistic forecasts, only two other deposits (Prinos in 1981) and Northern Prinos (1996) have actually yielded commercially exploitable hydrocarbons in Greek waters or on land.
According to Energean, successful horizontal drilling is yielding some 1,000 bopd on a restricted choke. The extended reach well (EA-H3) expends 5,676 meters and 689 meters into the deposit.
The EA-H3 well is being drilled with the company-owned rig “Energean Force”.
