The quantities of oil at Katakolo in Peloponnese, Greece are four times larger than initially estimated, with proven reserves amounting to 10.7 million barrels instead of the estimated three million barrels expected during the period of the tender, Energean sources revealed on Thursday, according to ANA.
Energean, which has assumed the management of the reserves, is planning to start drilling in 2019. Meanwhile, the environment and energy ministry approved the plan for the development of the field in August while the environmental study has already been submitted for approval.
In Greece, the company also operates in Prinos, where proven reserves are 40 million barrels plus 20 million additional potential, as well as in the areas of Ioannina and Aitoloakarnania, where the exploratory drilling has begun.
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