Financing Approved For Onshore, Offshore Greece Development

Drilling Activity Details



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Drilling Activity Summary


Energean Oil & Gas has obtained $180 million in additional financing from a collective of banks led by the European Bank for Reconstruction & Development for hydrocarbon development. According to the company, the funds will support a program for 41 MMboe of 2P reserves and 23.8 MMboe of 2C resources in Prinos, Prinos North and Epsilon offshore Greece oil fields in the Prinos Basin. The Aegean Sea development program includes the drilling of up to 25 additional wells and construction of two additional well platforms by 2021 to increase production. Energean’s headquarters are in London.