Energean Oil and Gas plans to install a new platform at its Prinos oil fields, the area’s first since 1979, at the end of 2019, once its construction is completed by Romanian company GPS, an old Energean associate, at its Costanta facility on the Black Sea coast.
“Lamda”, as the new platform will be named, will be installed over two digs at the Epsilon oil field, now the focus of Energean’s efforts at its offshore Prinos basin.
The first drilling venture, planned for early in 2019, will be conducted by Energean Force, Energean’s owned and operated offshore drilling rig.
A second Energean drilling operation at the Epsilon oil field, entailing as many as three exploratory efforts, is planned to take place later on in 2019, prior to the arrival of the new “Lamda” platform from Costanta. This effort will be performed by the jack-up GSP Jupiter, leased from Romania.
Energean is investing to further increase production from the Prinos and Prinos North oil fields, as well as to develop the Epsilon oil field, which is also a part of the Prinos licence.
According to Energean officials, Prinos North, which began producing in 1994, has offered better results than Prinos, producing since 1981. Epsilon is also seen possessing potential for favorable results, like Prinos North.