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New drilling at Prinos oil field

Δημοσίευση 6 Δεκεμβρίου 2010, 09:32 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
New drilling at Prinos oil field
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Environment, energy and climate change deputy minister Yiannis Maniatis on Saturday inaugurated a new drilling at the Prinos oil field in Kavala bay aimed at increasing production from the deposit.

Environment, energy and climate change deputy minister Yiannis Maniatis on Saturday inaugurated a new drilling at the Prinos oil field in Kavala bay aimed at increasing production from the deposit.

Maniatis said that a bill on setting up a national agency for hydrocarbon exploration and exploitation will soon be put to public deliberation, with the purpose of attracting investments in relevant research as was the case in all the neighboring countries.

The deputy minister said that exploration and exploitation of hydrocarbons is a matter of high priority for the government.

The drilling is part of a 40 million dollar investment project by operator Energean that will increase production from the Prinos field to 5,000 barrels a day.

A total of one million barrels have been produced from the Prinos field this year, while the target for 2011 is to increase production by 50 percent, to 1.5 million barrels.