Energean Oil & Gas was approved as the sole concessionaire of a block off western Greece, specifically the western Katakolo, following approval of a 40-percent stake in a joint consortium by Trajan Oil & Gas to the former.
Energean originally controlled 60% of the consortium, which was awarded research and exploration rights in May 2014 for the specific block.
Drilling is expected to start at the end of 2019, as “Naftemporiki” has previously reported, following the necessary submission of an environmental impact study.
Company officials have committed that an off-shore rig will not be used in the exploration, with “horizontal drilling” to be employed from the mainland – some 4.5 kilometers in distance from the shoreline and then at a depth of 2.5 kilometers to reach a possible deposit.
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Photo Source: Wikimedia Commons Copyright: HG32 License: CC-BY-SA
Source: naftemporiki.gr
